XRP Whale Moves 26 Mln XRP As Price Jumps Past $0.57

XRP, one of the most prominent cryptocurrencies across the crypto market, gained significant traction on Tuesday following a massive whale transfer noted by the token. The whale activity, showcasing the transfer of nearly 26 million XRP, caught the eyes of crypto market enthusiasts globally as it emerged amid a price surge recorded by the Ripple-backed crypto.

Moreover, as per on-chain data floating over the crypto horizon, these coins were transferred to a Luxembourg City-based CEX. Meanwhile, in the midst of a whale transfer followed by a price surge, a renowned crypto market analyst further cracked down on XRP’s current market dynamics.

XRP Whale Transfer: A Closer Look

According to the data unveiled by blockchain tracking platform Whale Alert, the noteworthy whale transaction occurred today, January 9. Furthermore, coinciding with the data, an unknown wallet, r4wf7enWPx…5XgwHh4Rzn, was noted, shifting aforestated amount.

Notably, the unknown wallet address moved a whopping 25.8 million XRP to Bitstamp, a centralized crypto exchange. Moreover, the number of coins transferred totaled a whopping $14.91 million as of writing.

Intriguingly, as reported by CoinGape Media earlier, the same wallet address was observed transferring similar amounts to CEXs, over the past few days. This primarily seems to come forth following Ripple Lab’s strategic stake acquisition in the aforementioned CEX. In the meantime, XRP’s price chart also appears to have sparked speculations.

Also Read: Bitcoin Options Give Mixed Signals, Institutional Investors Start Shorting ETF Market

XRP Price Jumps

At the time of writing, the XRP price showcased a substantial surge, rising 2.31% over the past 24 hours, reaching $0.5742. However, its weekly and monthly charts portrayed notable declines.

Intriguingly, a crypto market analyst further cracked down on XRP’s market charts. According to the analyst Cryptoes, XRP’s chart showcased a strong bullish engulfing daily candle. Moreover, the price closed below the $0.578 resistance level, propelling additional inferences for the token. He further stresses the need to see a close above it to revisit the $0.60 mark potentially, fueling optimism for token.

Also Read: Crypto Prices Today: Bitcoin Price (BTC) Thunders Past $47K, Ethereum Gains Momentum, Pepe Price Rallies 11%

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