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XRP Whales in Action: Significant Transfers Amid Market Balance

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XRP Whales in Action: Significant Transfers Amid Market Balance

Blockchain tracker Whale Alert reports that XRP whales have recently moved over $88 million in XRP to Coinbase and from Binance to unknown wallets. This activity occurred amid a slight market decline, prompting speculation about their next strategic moves. In a series of high-value transactions, XRP whales transferred significant amounts to Coinbase. 

One transaction involved 39,401,162 XRP, valued at approximately $20,712,323. The sender, identified by the wallet address “rnnXxL5TQV…11Z5ZKaAN5,” sent these funds to a Coinbase receiver with the address “rUjfTQpvBr…GG76nvp8Ln.” This transfer, occurring three hours ago, was quickly followed by another significant transfer of 39,635,128 XRP, valued at $20,835,314, from an unknown wallet (rEUiR8963k…oMqtxzmzWP) to the same Coinbase address. 

Related article: XRP’s Consolidation Phase: Assessing Potential Breakouts

Additionally, a third transfer of 39,564,579 XRP, worth $20,798,228, from another unknown wallet (rGL7E9s5Gs…qp51eXJ2pj) also went to the same Coinbase receiver. These coordinated efforts by the whale involved suggest a strategic move.

Notable Transfers From Binance To Unknown Wallets

In addition to the transfers to Coinbase, there were notable movements from Binance to unknown wallets. One significant transfer involved 25,371,334 XRP, valued at about $13,365,853. This transaction initiated from Binance’s wallet (rDAE53VfMv…Qxfht6JPxr) and sent to an unknown wallet address (rarG6FaeYh…gFsPn2bZKk). 

Related article: XRP Ledger Not Invincible, Says Ripple CTO David Schwartz

Another major transaction saw 24,887,349 XRP, worth approximately $13,076,779, moved from the same Binance wallet to another unknown wallet (rfQ9EcLkU6…eN47Rk8Cvi).

XRP Technical Indicators Show Market Consolidation

Presently, the market shows signs of consolidation with low volatility. The MACD indicator trends just below the zero line at -0.00084 on the one-day chart, suggesting trader indecision and hinting at a possible breakout in either direction. Supporting this observation, the MACD’s histogram shows bars flattening along the zero line, indicating a lack of market momentum. 

Meanwhile, the RSI indicator positions itself in the neutral zone at 49.91, reinforcing the absence of a clear market trend. Since the RSI is neither in overbought nor oversold territory, it confirms that the market balances without any dominant buying or selling pressure.

These significant transfers and technical indicators highlight a period of strategic moves and market balance, suggesting that further developments could lead to substantial changes in market dynamics.

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