On May 9, Blockchain whale alert It was identified A huge transition of 29,532,534 XRP, at a value of 69,536,183 dollars, led by Crypto Exchang Coinbase.
This large deal sparked eyebrows because it coincides with the operation of the continuous bull market, prompting investors to monitor the activities on the series closely.
Whales that already close?
According to the data, the huge transport was implemented by an unknown wallet address in one deal, indicating a potential sale attempt.
Although the exact motivation behind the transaction is still unclear, it has caused concern within the XRP community, especially as it is compatible with a period of the bullish momentum of the distinctive symbol.
Despite the transfer, XRP continues to show strong upwards. Over the past 24 hours, CoinmarkketCAP Data It shows that XRP has witnessed a daily increase of 3 %, after earning 8 % the day before. As of the time of the press, XRP is traded at $ 2.35.
In addition to high prices, XRP also recorded a 60.35 % increase in trading volume, which reflects the increasing activity between both traders in retail and institutions.
While large transfers to exchanges are often linked to the purpose of selling, this specific transport contains the XRP community, which is wondering whether the whales began to achieve profits after the last bull race.
What after xrp?
The current positive trend of XRP has optimistic investors, with expectations that the code will reach a sign of $ 3 soon. In the long run, some believe that XRP can reach the highest new level (ATH) before the start of the next bear cycle.
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However, if adult holders start selling holdings, this may stop the XRP bullish path. Achieving whale profits can lead to an increase in supply, and high demand for prices.
These procedures may also sell panic between smaller and least experienced investors, which leads to further pressure on the distinctive symbol price.
