Ripple’s Transfer of 60 Million XRP Fuels Price Speculation – Targeting $0.7?

XRP's Bullish

Whale Alert, a cryptocurrency tracking platform, reported significant XRP transactions, including a 60 million XRP transfer by Ripple to an unknown wallet.

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Over 80 million XRP tokens were moved within 24 hours, drawing the attention of traders and investors. Some of these tokens were sent to centralized exchanges, while others went to unknown wallets, creating a buzz in the crypto community.

Significant XRP Transfers Draw Attention

In recent data reported by Whale Alert, an impressive 20.7 million XRP tokens were moved to the Bitstamp cryptocurrency exchange, a transfer worth approximately $14.93 million. Notably, the same wallet address has been responsible for moving over a hundred million XRP tokens to centralized exchanges, as previously noted.

In another significant move, 60 million XRP tokens were transferred from Ripple to an unidentified wallet, with the transaction’s value standing at around $42.83 million at the time of writing. These notable transfers have garnered attention within the XRP community and the broader cryptocurrency space.

XRP Price Gains, Ripple Returns to Top Cryptos

Recent market data shows that XRP experienced a modest 0.30% increase in the past 24 hours, with the current price at $0.6896, marking a notable 10.20% rise over the past week.

Notably, XRP briefly claimed a spot among the top four cryptocurrencies by market capitalization, surpassing BNB. This surge was attributed to Ripple’s progress in the SEC vs. Ripple Labs lawsuit, resulting in increased price, trading volume, and market cap. However, as of today, it ranks fifth in terms of market capitalization, trailing behind BNB.

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With the cryptocurrency market showing upward momentum and overall bullish sentiment, some analysts predict XRP could reach $0.7 in the coming days. Nevertheless, investors should exercise caution due to the crypto industry’s inherent volatility.


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