An important XRP transaction recently attracted the attention of the cryptographic community. In recent hours, 20,000,000 XRP (worth $ 51,849,820) have been transferred from Gemini to an unknown portfolio, according to Blockchain Data Tracker Whale alert.
Although the exact reason for the move remains unknown, there are potential explanations. Large withdrawals of exchanges often indicate an accumulation by whales, which reduces the sale pressure.
Moving from XRP to a private portfolio may indicate long -term detention rather than immediate liquidation, which is also a potential optimistic signal. Sometimes such important transactions suggest that institutional actors take strategic movements or simply a reshuffle of funds.
XRP, the third largest cryptocurrency by market assessment, recently exchanged at a stable stage between $ 2.30 and $ 2.83, despite the excitement of the announcement of dismissal of the Coinbase Dry and The American Commission for Securities and Exchange Recognizing a series of ETF XRP deposits.
Despite this, the number of whale and shark portfolios increases continuously, according to Santiment. There are 261,100,000 XRP wallets 10 weeks ago, indicating a solid level of confidence of the main stakeholders.
XRP price action
XRP has barely evolved in the last 24 hours, with its tightening of prices in a small range since the drop of $ 2.50 on February 21. The daily mobile average of $ 50 to 2.72.
XRP has been consolidated laterally since February 3, the generally leaning trend. However, XRP / USD remains in limbo until the price exceeds $ 2.83 or falls below $ 2.30. The flat RSI slightly below the median point suggests that XRP can continue in the symmetrical triangle for a while. The next trend movement should start with a break above or below the triangle.
According to Crypto Ali analyst, an escape from the triangle could put XRP on the right track for a price decision of 14%. XRP can reach $ 3.40, while a drop below the support line could lower the price to $ 1.90.
Currently, liquidity remains both on demand and supply levels for XRP, which implies that a break in these levels could most likely determine the ultimate direction of XRP. With the recognition of the dry of more ETF XRP applications, Altcoin growth prospects in 2025 increase.
