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.
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.