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- Whale Alert reports a massive transfer of 25,950,000 XRP to Bitstamp from an unknown wallet, raising speculation.
- A crypto influencer highlights “Green God Candles” on XRP’s weekly chart, signaling potential for a significant upward move.
Whale Alert has discovered a significant movement of 25,950,000 XRP, worth roughly $15,055,827, from an unknown wallet to the Bitstamp exchange. Following this large-scale transaction, the sender wallet now has only 209.37 XRP, which is equivalent to $121.15.
🚨 25,950,000 #XRP (15,055,827 USD) transferred from unknown wallet to #Bitstamphttps://t.co/X3O7qz9rac
— Whale Alert (@whale_alert) August 13, 2024
Unexpected XRP Price Surge Despite Major Exchange Transfer
Significant transfers to exchanges are widely seen as attempts to liquidate assets, causing alarm in the community. However, contrary to forecasts, the XRP price has risen today. The token has increased by 0.93% over the last 24 hours to $0.5807, with a daily trading volume of $1.217 billion.
Interestingly, this price increase coincides with a general boost in market confidence, as evidenced by Deribit data. According to CNF, there are 4.3 million open contracts for XRP with a price objective of $1.10, demonstrating a high conviction in the token’s prospective growth.
This optimism has increased as a result of Ripple’s recent court victory over the United States Securities and Exchange Commission (SEC), which has caused a noticeable increase in XRP demand.
Meanwhile, Amonyx, a crypto influencer, has offered a favorable outlook on the XRP chart, adding to the bullish sentiment. He noticed the development of large “Green God Candles” on a weekly timeframe, implying that the token is poised for a significant upward rise.
According to Amonyx, XRP appears to be preparing to rebound from a mapped pattern, with the potential to achieve a new all-time high (ATH) of $57.
Analyst Captain Faibik, who is confident about the future of XRP, adds to this bullish narrative. As we previously reported, Faibik forecasts a significant bullish surge for the crypto, with a mid-term target of $2.30.
Furthermore, Ripple’s recent foray into the stablecoin market, paired with its legal victory over the SEC, is likely to boost future growth for XRP, allowing it to compete with industry titans.
