Whale Alert, a blockchain tracker, has reported that XRP whales have made significant transactions totaling over $88 million in XRP. These transactions include transfers to Coinbase and movements from Binance to unknown wallets, all happening during a minor market decline.
The activity of these XRP whales has caught the attention of blockchain enthusiasts, sparking discussions about their strategic intentions. Despite a slight 0.57% decrease in XRP’s market value in the last 24 hours, these high-value transfers have continued.
One of the notable transactions involved multiple transfers to Coinbase. The first transfer was for 39,401,162 XRP, valued at around $20,712,323, from an unknown wallet to a Coinbase address. This was followed by another transfer of 39,635,128 XRP worth $20,835,314, and a third transfer of 39,564,579 XRP valued at $20,798,228, all to Coinbase addresses.
In addition to transfers to Coinbase, there were also movements from Binance to unknown wallets. One significant transfer was for 25,371,334 XRP, valued at approximately $13,365,853, from Binance to an unknown wallet. Another transfer of 24,887,349 XRP worth $13,076,779 was also made from Binance to a different unknown wallet.
The XRP market is currently showing signs of consolidation with low volatility, as indicated by technical indicators such as the MACD and RSI. The MACD histogram suggests a lack of market momentum, while the RSI is in the neutral zone, indicating a balanced market without dominant buying or selling pressure.
It is important to note that this content is for informational purposes only and should not be considered financial advice. Readers are advised to conduct thorough research before making any investment decisions. The opinions expressed in this article are personal and do not reflect the views of The Crypto Basic.