todaysgazette.com
- Ripple XRP whale transfer favours token price surge.
- XRP indicates independent of Bitcoin’s trend.
In the crypto sphere, whale activities are not strange. Some cryptocurrency enthusiasts believe that capital investors control the rise and fall of the market price. A recent alert revealed that 187 million XRP were transferred into an unknown wallet, which has distinctly aided XRP price in the recent market.
Crypto Whales are known as the investors that have accumulated lots of digital coins in one or more wallets. There voluminous transactions often impact the market, either positively or negatively.
Ripple XRP Whale Transfers $83.20 Million Worth of XRP
According to the details of a transaction on Bithomp.com, an XRP Whale transferred 187 million XRP (approximately $83.20 million) from Ripple wallet address that starts with r9wz7 to different unknown wallets through 14 transactions at 03:13 (UTC) on May 30.
Also Read: Ripple’s CEO Lauds European Central Bank for Recognising XRP
While huge transfer is expected to live an impact on the price of Ripple’s XRP, the token is performing well in the market ahead of its contemporaries. The transaction could either be favourable or unfavourable on the part of XRP.
However, the present situation of XRP in the cryptocurrency market indicates that the whale transaction seems quite favourable. At press time, Ripple XRP is trading at $0.46, with 7.18% price increase in the last 24 hours.
XRP has proven to be strong and resilient against BTC price trend. As the cryptocurrency continues to trade higher, we might be heading for a price around $0.5 in the next few hours.
This transfer is typically unusual, but large transactions of XRP like this have been consistent at the tail end of every month.
Past Ripple XRP and Bitcoin (BTC) Whale Transfers
Lots of Whales’ transactions had been notified in the past. Crypto whale watchers have consistently monitored the flow of Ripple XRP and other cryptocurrencies, especially Bitcoin, within the ecosystem.
About 8 days ago, whale alert on twitter notified that 39 million Dollars’ worth of XRP was transferred from escrow wallet into one of its over-the-counter wallets.
🚨 🚨 🚨 100,000,000 #XRP (39,846,512 USD) transferred from Ripple Escrow wallet to Ripple
Tx: https://t.co/gThrGucb5G
— Whale Alert (@whale_alert) May 22, 2019
Meanwhile, a Bitcoin (BTC) whale transaction was also hinted on 15th May 2019. The transfer was totaled to be 45,000 BTC, which is approximately $391 million at press time. The transaction was reportedly made into 9 different addresses continuously.
The data of the voluminous transaction was revealed on btc.com at about 10:30 (UTC). The transaction is noteworthy due to the rank of the sender in Bitcoin’s investment rich list.
Also Read: Veteran Analyst Sees Bitcoin Reaching Notable ATH, Says 2018 Bear Will Be Forgotten
Before the transaction was made, the sender’s address was ranked 15th in the world, but at the time the report was published, the address holds no BTC.
The State of Bitcoin (BTC) in the Market
At the time of filing this report, Bitcoin is trading at $8,731.10, with 1.89% price increase in the last 24 hours. Analysts believe that BTC has recovered from its $8400 level, which could imply that its next price rally could take it beyond $9000 mark.
This possible rally is expected to impact the growth of other digital currencies, but recently, Ripple XRP has displayed a parabolic price movement that indicates it can grow independently.