Ripple’s flagship cryptocurrency, XRP, experienced notable market fluctuations this Thursday, drawing parallels with significant whale activity. During early trading phase, XRP was valued at approximately $0.52, reflecting a 1.2% downtrend over the past day.
Read CRYPTONEWSLAND onWith an impressive average daily trading volume nearing $1 billion, experts predict more market turbulence in the forthcoming weeks.
A pivotal revelation came from on-chain investigators, Whale Alert, spotlighting a hefty 26.8 million XRP transfer, worth an estimated $14.2 million, heading to a Bitstamp-affiliated wallet.
Interestingly, the origin, speculated to be tied to Ripple, executed a 20.4 million XRP transfer to the Bitso exchange earlier this week, along with transactions amassing close to $45 million to Bitstamp.
Ripple’s recent strategy unveiled the release of 1 billion XRP from its escrow, safeguarding 800 million for future endeavors. Following a courtroom resolution regarding its institutional sales, Ripple strategically leverages its crypto exchanges to navigate prevailing regulatory constraints.
While XRP’s valuation remained unwavering amidst the ongoing Ripple-SEC standoff, market projections indicate a potential surge towards its ATH soon. However, investors might witness a brief pullback to the 39-46 cents territory before the anticipated rally towards $1.
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