Hundreds of millions of XRP moved by whales as price shows bullish setup

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Youri Molchan

Exceptional amount of XRP transferred by anonymous wallets as XRP shows potential to hit $30 in 2024

Contents

  • Whales shovel 337.6 million XRP
  • XRP price shows bullish behavior

Whale Alert blockchain tracker reported that in the past five hours, nearly 338 million XRP was shoveled by anonymous wallets in two transactions.

While the price of XRP has fallen by more than 5% in the past 24 hours, before that the chart was showing bullish behavior.

Whales shovel 337.6 million XRP

The aforementioned crypto tracker spotted two transactions – one carrying an incredible 288,684,193 XRP and the other moving 49,000,000 XRP. Together, these two chunks of XRP are worth around $117.7 million in fiat.

Two days ago, November 19, a transfer of similar size was detected by Whale Alert; 296,396,865 XRP valued at $113,756,355 was moved between wallets that the crypto tracker marked as “unknown”.

XRP price shows bullish behavior

As covered by U.Today recently, the XRP chart formed a pattern that in 2013-2017 preceded a surge in XRP price to the all-time high of $3.84 – a bullish triangle.

At the time, after leaving the model, the price of the Ripple-affiliated coin jumped 4,430%.

So far, the effect of the model release has been hit by the negative impact of the FTX scandal, when even Bitcoin briefly fell below the $16,000 level, which had not been seen from the start. of 2020.

However, if the current developments on the chart go well, by October 2024, XRP might be able to reach $30 on momentum.

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