In a dramatic display of market activity, over 118 million XRP were moved between wallets and exchanges in the last 24 hours. This significant movement highlights both accumulation and dumping behaviours among large holders, offering insights into current market sentiments. Read on to uncover the details and implications of these transactions.
XRP Whale Activity Highlights Market Sentiment
Recent data from Whale Alert reveals that 118.32 million XRP were transferred by major players, known as whales, in the past day. This split includes 54.99 million XRP accumulated by one whale and 63.33 million XRP dumped by another, showcasing contrasting market behaviours.
Key Addresses in XRP Movement
An XRP whale with the address rarG6FaeYh has been actively accumulating the token despite its recent price dip. In contract, the address …Rzn has been offloading the same amount, indicating divergent market strategies among top holders.
XRP Market Confidence and Sentiment
These contrasting transactions point to mixed market confidence in XRP. While one whale is banking on future gains, the other appears to be reducing exposure, reflecting the current uncertainty in the market. This activity comes amid XRP’s price fluctuation, with its current value at $0.478, and a 1.5% drop in the past 24 hours.
The movement of over 118 million XRP between wallets and exchanges underscore the dynamic and often unpredictable nature of the cryptocurrency market.
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