$100,318,353 XRP Transfer Between Unknown Wallets Draws Market Attention

$100 million $XRP moved between anonymous wallets in the last 24 hours, drawing market attention.

Blockchain data tracker Whale Alert reported this large transaction, which saw over 73 million $XRP shift between unknown wallets.

"73,179,900 $XRP (100,318,353 USD) transferred from unknown wallet to unknown wallet," Whale Alert reported.

This comes as whale holders continue to increase accumulation, with wallets with at least 10 million $XRP reaching an 8-year high in their holdings.

In mid-May, Santiment reported that wallets with at least 10 million $XRP held a combined 45.83 billion $XRP tokens (about $68.5 billion), the most they have held since May 2018. This translates to over 68% of the coin's supply.

$XRP hits milestones

CME Group marked one year of $XRP futures. Milestones reached include 1.32 million contracts traded and $62.87 billion in notional volume, which is equivalent to 28.6 billion $XRP.

$XRP and Micro $XRP contracts offered by the CME Group provide a way to gain exposure to the price of $XRP and have gained interest since launching a year ago.

At the time of writing, $XRP was down 0.4% in the last 24 hours to $1.36 and down 4.34% weekly as the broader crypto market saw mixed trading action early Thursday.

$XRP fell for five days in a row to return below the 50-day MA at $1.394, but the positive aspect is that the price is holding above $1.3. A return above the 50-day MA might aid a comeback with $XRP eyeing a rise to the $1.61 level, where it might face resistance.

If $XRP sustains above $1.61, a potential trend change might be on the cards. $XRP price may then rally to $2 and later to $2.40.

On the other hand, if $XRP price continues to decline, it will put bears firmly in control. This increases the chances of a break below the $1.27 support. If this happens, $XRP may drop to $1.11.