In the last 24 hours, there has been a significant increase in Ripple (XRP) whale movements. The transfer of approximately 67 million tokens attracted attention, despite the recent decline in the cryptocurrency market. These movements, which signal a possible increase in XRP, have led to various speculations among investors and analysts.
Whale Movements in XRP
The fluctuations in Ripple’s market value indicate an expectation of a rise in XRP price triggered by whale movements. According to Whale Alert’s reports, there were three large transfers within the last day, two of which were large transfers to centralized exchanges (CEX); the other showed a large accumulation from Binance.
Decline in XRP
The current decline in XRP price reflects the mixed sentiment of cryptocurrency supply and the whales’ sentiment towards Ripple-backed cryptocurrency. While XRP price is experiencing a significant decline, data from the derivative market has led to various interpretations among investors.
The increase in market activity and changes in Coinglass data indicate that the market could change at any moment, and the actions of whales could play a crucial role in these changes. Despite the current price decrease, the increase in funding rates strengthens speculations about future price movements.
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