By Nermeen Nabil Khear 
The post Crypto Whales Are Buying the XRP Price Dip; Are You? appeared first on Coinpedia Fintech News
XRP is making headlines again, with blockchain tracker Whale Alert reporting massive token transfers that have sparked fresh market speculation. This activity follows XRP’s impressive rebound after a three-day dip, raising questions about what might be next for the cryptocurrency.
— Whale Alert (@whale_alert) December 6, 2024
Whale Transfers Spark Speculation
According to Whale Alert, 20 million XRP tokens worth $47.23 million were transferred from an unknown wallet to the cryptocurrency exchange Bitstamp. While the motives remain unclear, such large deposits often suggest potential selling activity. It’s possible the whales are taking profits from XRP’s recent price recovery or preparing for a liquidity play.
In another notable move, Whale Alert reported that 22.01 million XRP worth $50.35 million were transferred from Binance to an unknown wallet in the past 24 hours.
XRP’s Impressive Price Rally
XRP has been on a strong upward trend. After breaking past the $1 and $2 resistance levels in November, it faced challenges near $3 but has continued to climb. So far in December, XRP is up 24.61%, solidifying its position as the third-largest cryptocurrency with a market valuation of $139 billion.
Huge Investors Are Buying In
Notable on-chain analyst Ali Martinez highlighted in a recent X (formerly Twitter) post that whales have been buying the dip. When XRP’s price dropped from $2.90 to $2.22, whales purchased over 120 million XRP worth $288 million, signaling confidence in the cryptocurrency’s potential.
Analyst Mikybull Crypto is also bullish on XRP’s way up as he shared in a recent X post that XRP is in preparation for the next move to $4 after the breakout and retest.
$XRP in preparation for the next move to $4 after the breakout and retest. pic.twitter.com/W6TnyPQq8G
— Mikybull
Crypto (@MikybullCrypto) December 7, 2024
With XRP’s price skyrocketing, many are wondering what’s next—read XRP price prediction to see where this bullish trend could take the cryptocurrency!
Ripple CEO to Appear on “60 Minutes”
Adding to the buzz, Ripple CEO Brad Garlinghouse is set to feature on “60 Minutes,” one of America’s most influential news programs. The episode will focus on Ripple’s efforts to push for clearer cryptocurrency regulations in the U.S. With XRP now trading at $2.43, up 6% in the last 24 hours, the industry is eagerly awaiting Garlinghouse’s comments and their potential impact on the market.
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The post Crypto Whales Are Buying the XRP Price Dip; Are You? appeared first on Coinpedia Fintech News
XRP is making headlines again, with blockchain tracker Whale Alert reporting massive token transfers that have sparked fresh market speculation. This activity follows XRP’s impressive rebound after a three-day dip, raising questions about what might be next for the cryptocurrency. 🚨 🚨 20,000,000 #XRP (47,233,851 USD) transferred from unknown wallet to #Bitstamphttps://t.co/LoYQU27uRs— Whale Alert (@whale_alert) …
This articles is written by : Nermeen Nabil Khear Abdelmalak
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