The post XRP Whales Move 210 Million Coins Amid Cardano Partnership Rumours appeared on BitcoinEthereumNews.com.

XRP price in the last 24 hours has been bearish after failing to breach the resistance level at the intraday high of $1.14. Amid this price correction, XRP whales have moved over 210 million tokens in two significant transactions. The transfers coincide with rising speculation about a potential partnership between Ripple and Cardano. XRP Whales Transfer Over $210 Million in Two Transactions Data from Whale Alert revealed two large XRP whale transactions in the past 24 hours, totalling 210,930,712 tokens. In the first transfer, 110,930,712 XRP (worth approximately $123.59 million) was moved from Binance to an unknown wallet. In the second, 100,000,000 XRP (valued at $110.17 million) was sent between two unknown wallets. Such large-scale movements of XRP tokens by whales often signal strategic repositioning ahead of major market developments.  These transactions come as the XRP market shows signs of bullish momentum despite the recent price correction. Analysts are closely watching whale activity, which could hint at upcoming market changes. The whale transactions also coincide with increased speculation about a possible collaboration between Ripple and Cardano. Consequently, the recent interactions between Ripple CTO David Schwartz and Cardano founder Charles Hoskinson have fueled rumors of a partnership. Bullish Indicators Persist in XRP Price Trend Despite recent bearish price action, technical indicators point to potential bullish momentum for XRP. On the 24-hour price chart, XRP has formed a golden cross pattern, with the 50-day moving average (MA) crossing above the 200-day MA. This technical setup is often seen as a sign of a prolonged upward trend. Additionally, the Moving Average Convergence Divergence (MACD) indicator remains in the positive region, and its histogram suggests growing bullish strength.  XRP/USD 1-day price chart (source: TradingView) These factors imply that XRP’s current rally may not yet be over, and whales could be positioning themselves for a…

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Filed under: News - @ November 20, 2024 9:27 am