u.today
Multiple anonymous $XRP transfers have been detected on-chain as the $XRP community remains stunned. Moreover, the timing of these transactions is crucial as $XRP is currently aiming to kick start a huge price rally. Many analysts have been expecting an upward move from the coin.
On-chain tracking service Whale Alert has shared details about these latest $XRP transactions. In the first transfer, more than 102 million $XRP were transferred from an unknown crypto wallet to another unknown new wallet. This transaction was worth around $61 million as the current $XRP price.
In the second transfer, another $XRP whale moved over 26 million $XRP coins to Mexico-based crypto exchange Bitso. These coins were estimated to be valued above $15 million. However, this is not it. Whale Alert has detected another prominent $XRP move from another $XRP whale.
In the last transfer, the whale transferred just over 26 million $XRP to European cryptocurrency exchange Bitstamp. This transaction was valued over $15 million. Collectively, these three $XRP transfers are valued around $113 million, as almost 155 million $XRP coins shifted hands in the last 24 hours.
Impact on $XRP's price
Major movements from whales typically leave a strong impact on the $XRP price. However, it will be too early to predict the implications of these transfers. Moreover, they are giving mixed signals. The first transfer is neither a sale nor a purchase. However, the last two appear to be potential selling activity.
Although selling pressure like this can be negative for the price, it is expected that $XRP can sustain this pressure. As of writing this story, the price of $XRP is trading at $0.6002, a slight decrease of 0.23% in the last 24 hours. $XRP has successfully cleared the crucial $0.60 level, hence, it is likely that it will go up from this point.