XRP Price Breaks $0.59 Amid Massive Whale Activity, Rally To Sustain?
XRP has continued to pump non-stop, extending weekly gains to 35%. Meanwhile, whales shuffled millions today, birthing speculations over the next price target.
XRP has once again curated a tidal wave of optimism among crypto market participants today, breaking the $0.59 price level. On-chain data reveals that whales shuffled millions of coins amid the Ripple-backed token’s upswing, generating a torrent of speculative buzz on future price movements. So, let’s take a closer look at the asset’s current market dynamics and its next price target, which crypto market participants are eagerly awaiting.
Whales Shuffle 51M XRP: Whale Alert:-
According to data offered by the on-chain transaction tracker Whale Alert on X, two whales collectively shuffled 50.92 million coins, worth $27.45 million, over the past day. These whale transactions encompass both accumulations and dumps.
Notably, 27.9 million coins, worth $14.91 million, were transferred by the renowned whale, ..Rzn, to the Bitstamp crypto exchange. Simultaneously, the whale address rarG… was recorded to have bagged 23.02 million coins, worth $12.54 million, from the Binance crypto exchange. Concunrently, as per Santiment, this upsurge is attributed to the increasing hodling levels from whales with 100K + XRP coins.
Intriguingly, both the whale addresses stage as renowned XRP whales, which CoinGape reported previously to be making similar transactions. The uncertainty of the transactions has further birthed contrasting market sentiments on future price movements.
Nevertheless, the Ripple-backed asset continues to surge unprecedentedly. This price upswing comes amid the anticipation of the conclusion of the Ripple vs. SEC lawsuit. Pro-XRP lawyers Bill Morgan and Fred Rispoli expect a ruling on remedies and injunction at the end of July or the beginning of August. Meanwhile, as mentioned above, the token continues to gain.
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