TL;DR
- Whales have taken advantage of the recent XRP correction, purchasing more than 100 million tokens, showing confidence in its long-term potential.
- XRP has recovered, reaching $2.46 with an increase of more than 15% in the last 24 hours; its market capitalization is $140.7 billion.
- Ripple transferred 200 million XRP to an unknown wallet, while 2.66 billion tokens were moved to Binance in the last month.
Recent fluctuations in the price of XRP have triggered strong market activity, particularly among whales.
During a correction in the token’s value, which briefly brought it to levels near $1.92, whales took advantage of the dip to acquire large amounts of XRP, with purchases exceeding 100 million tokens. This highlights the confidence of large investors in the cryptocurrency’s long-term potential, despite short-term fluctuations.
In the recent dip, whales bought over 100 million $XRP! pic.twitter.com/xU2YscIkvj
— Ali (@ali_charts) December 11, 2024
XRP’s price has recovered, reaching $2.46 per unit after recording an increase of more than 15% in the last 24 hours. Currently, the token’s market capitalization stands at $140.7 billion, while its daily trading volume is $24.7 billion, up 15.15%.
Ripple Transferred 200 Million XRP Tokens to an Unknown Wallet
According to Whale Alert, Ripple, the company behind the token, transferred 200 million XRP, worth approximately $463 million, to an unknown wallet. This operation has fueled speculation about a possible strategic accumulation of tokens by Ripple or other major market players. Furthermore, the CryptoQuant platform revealed that, in the past 30 days, 2.66 billion XRP have been moved to Binance, marking the largest volume of movement of this kind since April 2024.
The surge in whale activity coincides with several factors that could be influencing market behavior. The legal clarity obtained by XRP, following a judicial ruling that exempted it from being considered a security, has removed regulatory uncertainties that weighed on the cryptocurrency. Additionally, the upcoming U.S. administration is expected to be more favorable to cryptocurrencies, creating an environment of optimism for the market.
Although the outlook is positive, volatility remains a feature of the XRP market. The token is trading above key support levels, with a psychological resistance level at $3. If it manages to surpass $2.94, this could further boost its price in the near future.
