#XRPwhales #CryptoNews #WhaleAlert #CryptoMarket #CryptoExchange #Bitso #Bitstamp #Cryptocurrency
Large-scale transactions, colloquially known as “whale activities,” in the XRP ecosystem are surging, raising many questions among investors and the cryptocurrency enthusiast community. Recent on-chain data indicates a significant spike in such transactions, particularly the movement of roughly 47 million XRP to crypto exchanges. Information sourcing from Whale Alert, an on-chain tracker, unveiled that these funds transfers occurred in two separate instances to centralized exchanges (CEXs).
The first transfer involved approximately 24.8 million XRP, equivalent to $15,463,840, heading towards the crypto exchange, Bitso. While the second transaction, carried out by the same unknown wallet address, involved close to 23.8 million XRP, approximately $14,840,298, directed towards yet another well-known crypto exchange, Bitstamp. Interestingly, this triggering activity comes at a time when XRP is experiencing a price drop. Close observation of the whale wallet showed similar massive transfers happening on December 27, wherein over 49 million XRP were moved to these exchanges. Experts suggest that these actions might be connected to Ripple’s strategic partnerships with Bitstamp and Bitso, highlighting the use of Ripple’s payment services by these exchanges.
Egrag Crypto, a known analyst in the crypto space, recently dropped a potential bombshell by suggesting that XRP may hit a value of $2,500 in the coming years, based on a discussion he had with a prominent banker. According to him, the price jump could happen by 2029, which places XRP as an attractive long-term investment asset. While the token currently stands at a price of $0.629, exhibiting a dip of 1.60% within the past day, Egrag Crypto’s speculation paints a hopeful future for crypto investors. The crypto market, known for its volatility, may surprise investors with such streaks of price hikes, making the digital asset a potential lucrative investment opportunity in the long run.
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