Massive XRP Whale Transfers Stir Crypto Markets
XRP caused a stir in the crypto market with a flurry of activity on Monday.
A substantial amount of XRP was on the move, catching the attention of traders globally.
Notably, Ripple itself was involved in transferring a significant portion of XRP, alongside another large holder moving tokens to a centralized exchange.
Data from Whale Alert highlighted three major transactions, totaling 207.3 million XRP, on February 12.
Among these, one wallet transferred 27.3 million XRP to Bitstamp, a Luxembourg-based exchange. Ripple also executed two transactions, moving a total of 180 million XRP between undisclosed wallets.
Concurrently, derivative data indicated a decrease in XRP’s open interest, coinciding with its price decline over the past 24 hours, currently at $0.5183.
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Despite this, analyst Dark Defender expressed optimism, foreseeing a target price of $1.88 based on XRP’s recent price movements.
The movements in XRP’s market activity underscored a dynamic day in the digital asset space, prompting discussions and speculation among traders and investors alike.
As the cryptocurrency landscape continues to evolve, such fluctuations serve as a reminder of the volatility inherent in this emerging market.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
