XRP Network Seeing Explosion in $1 Million Transactions
The post XRP Network Seeing Explosion in $1 Million Transactions appeared on BitcoinEthereumNews.com.
Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Data from XRP network activity has excited the community as it witnesses an explosion of large transactions. According to Ali Martinez, an on-chain analyst on X, there has been a surge in transactions worth over $1 million on the network. XRP whale activity signals confidence Notably, these transactions hitting $1 million belong to large holders or whales. That is, market participants with a large volume of XRP tokens. This is a significant indicator of the activities occurring in the XRP ecosystem. It suggests that users of the XRP network are transferring substantial value. Related Martinez highlighted that within 24 hours, Santiment had spotted 341 transactions worth over $1 million. This increase in usage could signal growing confidence in the XRP network, especially for these whales. As of this writing, XRP’s price changed hands at $2.83, a 9.14% increase in the last 24 hours. The trading volume has also registered an uptick of 38.22% to $13.52 billion. With this current market price, putting the network transaction in perspective shows that a massive amount of XRP has passed through the network. Each of the $1 million transactions involves approximately 353,356 XRP. Thus, the cumulative volume of the 341 transactions alone is at least 120.4 million XRP within 24 hours. Outlook for XRP This massive volume is in addition to those carried…
Filed under: News - @ January 15, 2025 7:28 pm