CandleFocus 30 Million XRP Withdrawal Stuns Top Crypto Exchange
2024-09-24
Author: Content Editor
Despite the stagnant market growth and lackluster performance of XRP in recent weeks, large investors, or "whales," continue to show confidence in the Ripple-associated coin. This is evidenced by a recent purchase of 30 million XRP coins, estimated to be worth around $17.6 million. The increasing outflow of XRP from top crypto exchanges reflects growing demand for the digital currency. Positive developments and updates related to Ripple Labs have injected confidence into the market, prompting whales to take advantage of the sentiment. However, XRP still needs to break out of its consolidation phase and overcome resistance at the $0.61 level in order to trigger a sustained price rally.
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