XRP Whale Transferred 54M Tokens to Exchange Despite Price Surge of Over 2.3%

In the last 24 hours, an XRP whale wallet address “r4wf7” moved a significant 54.4 million tokens worth $31 million to the Bitstamp wallet address

A XRP whale wallet address “r4wf7” has moved a significant 54.4 million XRP tokens, valued at around $31 million, to the Bitstamp wallet address “rDsbeomae4…g9vDiTCdBv,” according to the blockchain transaction tracker Whale Alert.

The XRP whale transferred these massive tokens through two separate transactions of the same amount within 24 hours. The owner of this wallet is still unknown.

? 27,050,000 #XRP (15,403,350 USD) transferred from unknown wallet to #Bitstamphttps://t.co/ivxxMRjVnm

This massive XRP token transfer comes as the token is still trading above $0.567 with a price surge of over 2.3% in the last 24 hours. Meanwhile, XRP’s trading volume has also increased by 45% during the same period. This rise in the trading volume indicates higher participation from traders and investors.

XRP Price Prediction

In a crucial support level and also at the 200 Exponential Moving Average (EMA) on both the 4-hour and daily time frames, XRP has been continuously falling in a lower high and lower low pattern in a 4-hour time frame for the last four trading days.

Currently, it is at a lower high area. Based on the price action, there is a high possibility it could fall 7%-8% to the $0.52 level and make a new lower low in the coming days.

On the other hand, XRP could only experience an upside move if it could give a breakout of the recent lower high and close a candle above the $0.58 level.

Major Liquidation Levels

According to data from the on-chain analytic firm CoinGlass, XRP’s major liquidation levels are at $0.552 on the lower side and $0.585 on the upper side.

If market sentiment changes and XRP’s price soars to the $0.585 level, nearly $6.51 million of the short position will be liquidated. Conversely, if the sentiment remains unchanged and the price reaches the $0.552 level, nearly $9.31 million of the long position will be liquidated.

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