{"id":74154,"date":"2024-03-22T01:56:02","date_gmt":"2024-03-22T05:56:02","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=74154"},"modified":"2024-03-22T01:56:39","modified_gmt":"2024-03-22T05:56:39","slug":"xrp-whales-moves-75-mln-coins-amid-price-rebound","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/xrp-whales-moves-75-mln-coins-amid-price-rebound\/","title":{"rendered":"XRP Whales Moves\u00a075 Mln Coins Amid\u00a0Price Rebound"},"content":{"rendered":"\n

XRP whales recently transferred 75 million coins, attracting considerable interest as XRP's price<\/a>\u00a0regained its upward trend and surpassed $0.63 today.<\/p>\n\n\n\n

\"XRP<\/figure>\n\n\n\n

Ripple Labs-backed XRP, a cryptocurrency, has recently swept the cryptocurrency community by storm, in an extraordinary turn of events.<\/p>\n\n\n\n

As of press time, the price exhibited signs of a resurgence, regaining its upward trajectory and surpassing the $0.63 mark.<\/p>\n\n\n\n

Amid the overall recovery observed in the crypto market, substantial investor interest was captured in the immense whale activity that hovered over the horizon of cryptocurrencies.<\/p>\n\n\n\n

According to market data, 75 million XRP in circulation sparked a tidal surge of crypto enthusiast speculation regarding XRP's current\u00a0tokenomics, casting doubt on the Ripple-backed token's future price action.<\/p>\n\n\n\n

XRP Whale Transactions Reflect Mixed Sentiment Among Whales<\/h2>\n\n\n\n

As per the information streamlined by the blockchain tracking service Whale Alert, the transfer of 75 million tokens was facilitated by three enormous transactions.<\/p>\n\n\n\n

A well-known XRP whale offloaded XRP to CEXs in two of these transactions.<\/p>\n\n\n\n

Moreover, an unidentified address amassed XRP from Upbit, another CEX.<\/p>\n\n\n\n

30 million XRP, worth $19 million, was noted to be bought by the address r3oWusPeT9\u2026RNHs4AWfTv, whereas the XRP whale, \u2026Rzn, shifted 22.15 million XRP, worth $13.94 million, to Bitstamp and 23.20 million XRP, worth $14.89 million, to Bitso.<\/p>\n\n\n\n

This demonstrated the mixed sentiment of XRP whales, as the transactions above exemplified an accumulation and dump in hand.<\/p>\n\n\n\n

Meanwhile, the significant accumulation, which coincided with the XRP's price increase, spawned bullishness, whereas the drop sparked rumors of a bearish market trend.<\/p>\n\n\n\n

Today's bullish sentiment was further fuelled by XRP market data.<\/p>\n\n\n\n

XRP Price Surges<\/h2>\n\n\n\n

At the time of writing, the price of XRP tokens has increased by 4.49% over the past 24 hours and is presently $0.6351.<\/p>\n\n\n\n

In addition to a 7.74% increase in 24-hour trading volume, the Ripple-backed token generated bullish waves throughout the boundless domain of cryptocurrencies with a 4.50% increase in market cap.<\/p>\n\n\n\n

Coincidentally, Coinglass reported a significant increase of 8.26% in XRP's\u00a0open interest\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>,\u00a0accompanied by a 14.92% surge in volume.<\/p>\n\n\n\n

In conjunction with the token's favorable market position and an increase in the OI-weighted funding rate to 0.0316%, this indicated substantial new money inflow in the derivatives market, heightened market activity<\/a>, and investors' increased willingness to invest in long positions.<\/p>\n\n\n\n

Since then, according to data from Trading View, technical indicators have demonstrated a market-wide buying sentiment towards the token, indicating the possibility of additional gains.<\/p>\n\n\n\n

Notably, a layer of optimism has already permeated the broader market surrounding XRP's ascent to $1 in April.<\/p>\n\n\n\n

As additional current market data comes into play, crypto market enthusiasts continue to closely monitor the token in anticipation of forthcoming price action shifts.<\/p>\n","protected":false},"excerpt":{"rendered":"

XRP whales recently transferred 75 million coins, attracting considerable interest as XRP’s price\u00a0regained its upward trend and surpassed $0.63 today. Ripple Labs-backed XRP, a cryptocurrency, has recently swept the cryptocurrency community by storm, in an extraordinary turn of events. As of press time, the price exhibited signs of a resurgence, regaining its upward trajectory and […]<\/p>\n","protected":false},"author":56,"featured_media":59630,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[16008,146],"class_list":["post-74154","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-xrp-whales","tag-xrp"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/09\/IMAGE_1671014556.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/74154","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=74154"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/74154\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/59630"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=74154"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=74154"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=74154"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}