Whale Alert, a blockchain tracker, has reported that XRP whales have conducted transactions worth over $88 million in XRP, moving funds to Coinbase and unknown wallets from Binance amidst a slight market decline. This activity has sparked speculation about the intentions of these high-value investors.
The first notable transaction involved the transfer of 39,401,162 XRP valued at around $20,712,323 from an unknown wallet to Coinbase. This was followed by a similar transfer of 39,635,128 XRP worth $20,835,314 to the same Coinbase address. Another significant transfer of 39,564,579 XRP, valued at $20,798,228, was also made to Coinbase from a different unknown wallet.
In addition to these transfers to Coinbase, there were also movements from Binance to unknown wallets. One transfer saw 25,371,334 XRP, worth approximately $13,365,853, sent from Binance to an unknown wallet. Another transfer involved 24,887,349 XRP, valued at around $13,076,779, moving from Binance to a different unknown wallet.
The XRP market is currently showing signs of consolidation with low volatility, as indicated by the MACD indicator hovering just below the zero line at -0.00084 on the one-day chart. The histogram of the MACD is flattening along the zero line, suggesting a lack of market momentum. The RSI indicator is at 49.91, indicating a neutral market trend without any dominant buying or selling pressure.
It is important to note that this content is for informational purposes only and should not be considered financial advice. Readers are advised to conduct thorough research before making any investment decisions.