The post XRP Price To Rally As Whales Move $51M Transfer? appeared on BitcoinEthereumNews.com.

The XRP price is in focus following a crypto whale’s transfer of $51 million worth of XRP. This development provides a bullish outlook for the coin, considering the impact this category of investors could have on price as they accumulate more XRP. XRP Price Could Rally As Whales Make Their Move The XRP price could rally as whales make their move with a $51 million worth of XRP transfer. Onchain data shows that a transfer of 100 million XRP ($51.6 million) occurred between two unknown wallets. This is bullish since the transfer wasn’t to an exchange, as it would suggest that the whale in question is looking to sell their coins. Instead, with the transfer to another wallet, the whale could have moved it simply for security purposes as they look to hold for the long term. This comes amid the appeal case between Ripple and the US Securities And Exchange Commission (SEC). This whale activity is a positive for XRP, suggesting that the long-running legal battle no longer impacts investors’ sentiment toward the coin. Meanwhile, the whale activity follows crypto analyst Egrag Crypto’s recent prediction that XRP could hit $95 soon. Factors like a surge in whale activity could help spark this unprecedented price rally. However, for now, the focus will undoubtedly be on XRP finally enjoying a successful breakout above the $0.6 resistance, which it has retested multiple times following Judge Analisa Torres’ final judgment back in August. How The Crypto Move With The Bitcoin Price Egrag Crypto has provided another perspective on how the XRP price could move with the Bitcoin price. The analyst claimed that XRP could reach $4.43 if BTC rises to $100,000. He remarked that this 555% price gain would mirror the last cycle’s high. Furthermore, Egrag mentioned that XRP could rise to $5.76…

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Filed under: News - @ October 29, 2024 1:10 am