Hi Guys,
It's Big & Big
#alert About
$XRP #whales_game of $28 Million !!
Whales Move 28M XRP Before Ripple vs SEC’s May 6th Deadline
The Ripple vs SEC legal battle heats up as investors await clarity. XRP is standing tall, keeping its foothold at the critical $0.54 level, a crucial defense against further market dips. A massive transfer of 28M XRP by a mysterious whale to
Bitstamp sparks speculation.
Some see it as a selloff due to legal uncertainties, while others view it as part of Ripple’s liquidity strategy. The whale transfer comes before the SEC’s deadline for filing its reply brief.
Despite market volatility, XRP rises over 2% as crypto recovers.
Despite bearish market conditions, XRP has surged by 2.59% and 9% over the week, driven by substantial buying activity from derivatives traders ahead of the SEC’s impending reply to Ripple’s opposition to Fox’s testimony.
Whales Movements Creating Panic Sell-off
A mysterious XRP whale, known by the wallet address “r4wf7…h4Rzn,” has sent shockwaves through the market by moving a large amount of XRP.
The whale transferred 28.24 million XRP tokens, valued at around $14.94 million, to the Bitstamp exchange.
XRP Price Action
XRP’s price has surged over 2.59% in the past 24 hours, and it is currently trading above $0.5436 with a market cap of $29.8 billion. During the market sell-off, XRP has seen considerable buying interest after Ripple’s move to lock 800 million XRP in escrow last week, reducing circulating supply in three separate allocations: 100 million, 200 million, and 500 million.
Ripple’s transfer of another 60 million XRP to an unknown wallet has also sparked speculation within the XRP community. Notably, the derivatives market has witnessed significant buying activity, with XRP futures open interest exceeding $1.42 billion XRP.
#altcoins #CryptoWatchMay2024 #Write2Earrn