XRP Whales Moving: 360M Tokens Transferred in 24 Hours!
• XRP whales have been making large transactions as the SEC vs Ripple lawsuit comes to a close. In the past 24 hours, over 360 million XRP tokens worth around $192 million were moved by whales.
• Data shows that whales went on an accumulation spree as well, with over 146 million XRP tokens worth approximately $78 million added to their wallets in the last 24 hours.
• XRP’s price action has been quite strong recently, and its relative strength index surged over 70 yesterday but has now begun falling, potentially signaling a loss of momentum that may result in price falls.
XRP Whales on the Move
XRP whales have been busy lately, with over 360 million XRP tokens worth around $192 million transferred in the past 24 hours. The biggest transaction was for 100 million tokens worth approximately $53.4 million. Additionally, 146 million tokens worth approximately $78 million have been added to whale wallets in the same time period.
Whales Target Binance
The largest transaction was for 60.3 million XRP tokens worth approximately $32.3 from top crypto exchange Binance. 94.4 million XRP tokens worth approximately $50.5million were also moved from Binance to an unknown wallet due to legal complications from the CFTC.
Price Action of XRP
XRP’s price has risen by 0.5% in the past 24 hours and is currently sitting at $0.535868 while other cryptocurrencies continue to fall by 1%. Its 30-day moving average has just overtaken its 200-day average which could point towards a breakout rally that could continue for several days despite indicators suggesting it is overbought due to being undervalued for so long priorly..
Ripple CEO Expects End of Case This Year
Ripple CEO Brad Garlinghouse expects an end to their legal case this year and remains positive despite recent price action from XRP as it continues surging despite red indexes for other cryptocurrencies . The community is confident that whatever decision comes out will be positive allowing Ripple to progress further and pushing prices higher than ever before as speculation increases..
Conclusion
As speculation continues increasing due to many expecting a positive outcome from the SEC vs Ripple Lawsuit ,whales keep transferring & accumulating large amounts of XRPs while its prices continue rising . Despite conventional indicators showing its overbought ,the cryptocurrency had been dramatically undervalued for so long priorly which may allow us disregard these indicators .
