Coingape Staff
XRP, one of the most prominent cryptocurrencies by global market cap, once again echoed a sense of frenzy across the crypto horizon on Thursday, following three noteworthy whale transactions noted by the Ripple-backed token. As per blockchain insights revealed by the blockchain tracker Whale Alert, a staggering 91 million XRP, shuffled between wallets and exchanges recently, piqued the interest of crypto market fanatics globally.
Meanwhile, XRP’s price jumped remarkably today, surging past the $0.51 mark, birthing additional inferences for the token. A noteworthy cause for the jump in the token’s price may be due to Sean McBride’s recent announcement of upcoming significant news for XRP. While, the crypto community also anticipates the jump to be because of Ripple’s strategic legal maneuvering in the SEC lawsuit, scouring for an extension.
XRP Whale Transactions: A Detailed Report
According to the data revealed by Whale Alert, the three whales collectively shifted 91.3 million XRP, worth $46.35 million, nabbing significant attention globally. Out of these, 51.3 million XRP was dumped to CEXs Bitstamp and Bitso, whereas 40 million XRP was accumulated from Bybit by an unknown wallet.
As per the data, the unknown wallet, …Rzn, dumped the aforementioned amount to Bitstamp and Bitso. Whilst, the wallet address …kJN accumulated the abovementioned amount from Bybit, a crypto exchange headquartered in Singapore.
Intriguingly, amid the whales’ significant shuffling of funds, the XRP price appears to be on an upward momentum. The Ripple-backed token’s options data further aligned with the price jump.
Data unveiled by Coinglass suggests an upswing of 3.68% in the token’s open interest, mirroring today’s price surge. In the interim, the token’s options open interest also sprung 15.02%.
Also Read: Crypto Prices Today: Bitcoin, Pepe Coin, XRP Extend Rebound Spree As DYM Leads Rally
XRP Price Surges
As of press time, the XRP price traded in the green, jumping 2% over the past 24 hours, reaching $0.514. Moreover, the token’s market cap and trading volume also jotted down a 2.03% and 18.87% upswing, respectively.
The sudden jump, despite today’s whale dump, appears to come as a result of Ripple’s former director’s recent cryptic message of a significant announcement shortly ahead. In addition, Ripple’s strategic legacy maneuvering in its lawsuit appears to have further aided this upward momentum.
Also Read: Bitcoin Whales Accumulate Heavily, BTC Price Eyes $51,000 In Pre-Halving Rally
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
