XRP News: Ripple Moves 150M Coins As Price Soars 6%, What’s the Deal?

by

As a seasoned analyst with years of experience navigating the volatile world of cryptocurrencies, I must say the recent XRP news has piqued my interest significantly. The 150 million XRP transfer by Ripple and the subsequent 6% price surge is a testament to the resilience and potential of this digital asset.

As a researcher delving into the dynamic world of cryptocurrencies, I found myself captivated on Friday by the significant 150 million XRP transfer orchestrated by the American blockchain payments company, Ripple. This substantial transaction coincided with an intriguing 6% surge in XRP’s price today, a development that has ignited great excitement among investors. Furthermore, recent advancements within the community have added to the optimism surrounding XRP’s price fluctuations.

XRP News: Ripple Moves 150M Coins, Whale Dumps 43M

According to Whale Alert’s latest on-chain analysis on X, dated September 13th, I personally observed a massive transfer of 150 million XRP, equivalent to around $85 million, to an unidentified wallet with the address rP4X2hTa7A. This transaction has ignited intense conversations within the global crypto community, fueled by the recent introduction of the new Grayscale XRP trust.

Over the last day, the famous whale account Rzn transferred approximately 43.3 million coins, valued at around $24.34 million, to exchanges Bitstamp and Bitso through several transactions. Interestingly, despite this massive sale, the price of the native token from the American blockchain payments company has surged by around 6% today.

It seems that the debut of the Grayscale XRP trust has ignited a surge of hope for the digital currency supported by Ripple. Moreover, the ongoing investigation involving SEC Chairman Gary Gensler has fueled optimism about potential price increases in the cryptocurrency.

Coin Price Pumps 6%

In the last 24 hours, Ripple’s XRP price has jumped around 6%, bucking the general market trend, and is now priced at $0.5699. The coin experienced a low of $0.5355 and a high of $0.5809 within this period. Impressively, the daily trading volume for this asset saw a massive increase of 109%.

At the same time, Coinglass data showed a 7% increase in XRP‘s futures Open Interest (OI) to $642.02 million. Moreover, today’s derivatives volume significantly increased by 327.22%, reaching $2.93 billion. This significant growth in the derivatives market suggests a heightened level of investor interest in the asset. Additionally, with the rise in price, the data suggests that XRP is currently experiencing an uptrend.

Collectively, the latest updates about XRP, including advancements within the community and Ripple’s transactions on the blockchain, have sparked substantial interest among investors in this digital currency.

Read More

2024-09-13 10:24