As a seasoned financial analyst with a background in cryptocurrencies and extensive experience tracking market trends, I find today’s XRP news particularly intriguing. The sudden transfer of 77.57 million XRP by whales, as reported by Whale Alert, has raised eyebrows within the crypto community. This activity, combined with the upcoming SEC closed-door meeting on July 25, has left investors in a state of uncertainty.
On July 25, there’s been significant interest in XRP, one of the larger cryptocurrencies by market capitalization. Approximately 77 million coins were moved by major investors, coinciding with an upcoming SEC private meeting. This event has sparked curiosity among investors due to the potential implications for XRP. Furthermore, the derivatives market for XRP has experienced heightened activity, which suggests a positive outlook for the asset’s price movement. Let me provide you with some recent market data that has garnered international attention.
XRP News: Whales Transfer 77M Coins
Based on the information provided by the transaction monitoring system Whale Alert, approximately 77.57 million XRP were transferred among large-scale investors (whales) within the last 24 hours. This transfer activity encompassed both buying and selling actions.
Significantly, approximately 23.28 million XRP, valued at around $13.90 million, were amassed from Binance, a prominent cryptocurrency exchange, by the identified whale address rarG6FaeYh. At the same time, the well-known whale address ‘..Rzn’ transferred 54.29 million coins, equivalent to approximately $32.30 million, to Bitstamp and Bitso exchanges through two distinct transactions. Collectively, these whale actions have instilled uncertainty among investors regarding XRP’s future market direction.
It’s important to mention that there’s a growing sense of hope within the cryptocurrency world regarding the possibility of a resolution in the ongoing Ripple versus SEC legal dispute. The Securities and Exchange Commission is scheduled to hold a private meeting on July 25, during which Ripple is believed to be a topic of discussion. The outcome of this gathering is greatly anticipated by the global crypto community, as it could bring positive news for XRP investors.
Derivatives Data Highlights Increased Investor Interest
At the present moment, the cost of XRP was hovering around $0.62, representing a 2.57% increase. The price had reached a low of $0.5843 and a high of $0.6297 over the previous 24 hours.
The open interest for XRP Futures on Coinglass surged to $796.75 million today, signifying a significant rise in investor demand for this asset. In tandem, derivatives trading volume escalated to $2.21 billion. Furthermore, the hourly and 4-hour charts indicated a 2.55% and 7.21% growth in open interest respectively. These findings lent an air of optimism to XRP, fueled by heightened investor excitement.
Another intriguing piece of XRP news that generated significant buzz recently was the disclosure by XRPScan about data suggesting that Elon Musk does not hold any of the cryptocurrency backed by Ripple.
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2024-07-24 15:03