{"id":224045,"date":"2024-01-05T12:31:00","date_gmt":"2024-01-05T07:01:00","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=224045"},"modified":"2024-01-05T12:31:00","modified_gmt":"2024-01-05T07:01:00","slug":"xrp-whale-dumps-over-50-mln-xrp-as-price-slips-below-0-58-whats-next-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/xrp-whale-dumps-over-50-mln-xrp-as-price-slips-below-0-58-whats-next-crypto-news\/","title":{"rendered":"XRP Whale Dumps Over 50 Mln XRP As Price Slips Below $0.58,\u00a0What’s\u00a0Next? – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

XRP, one of the most popular cryptocurrencies fostered by Ripple Labs, curates a hurricane of speculations across the crypto realm today as the token recorded significant whale transfers to a CEX recently. Intriguingly, these whale transactions have stirred a whirlpool of inferences among crypto market enthusiasts globally following their emergence amid the token\u2019s price drop.<\/p>\n

Moreover, as per on-chain data sailing through the vastness of crypto, two significant whale transactions appear to have evoked noteworthy interest. These transactions showcased the relocation of nearly 50 million XRP to CEXs<\/a>.<\/p>\n

<\/p>\n

Meanwhile, renowned crypto analysts further spotlighted the token\u2019s present market dynamics, garnering further inferences for the token.<\/p>\n

Whale Dumps XRP To CEXs<\/h2>\n

According to the data revealed by blockchain tracking platform Whale Alert, the two transactions that caught global attention showcased the shifting of a whopping 50.7 million XRP to CEXs, Bitstamp and Bitso.<\/p>\n

The first on-chain transaction illustrated the transfer of 26 million XRP to Bitso<\/a>, whereas the second highlighted the move of 24.7 million XRP to Bitstamp<\/a>.<\/p>\n

<\/p>\n

Notably, both the transfers mentioned above took place via the same wallet address, r4wf7enWPx\u20265XgwHh4Rzn. Furthermore, as reported<\/a> by CoinGape Media earlier, the same address was also recorded, making similar noteworthy transfers in recent days.<\/p>\n

<\/p>\n

Meanwhile, the transfer of XRP to Bitstamp and Bitso through the same address is now emerging as a recurring phenomenon within the crypto landscape. This may be primarily attributed to Ripple Lab\u2019s strategic stake acquisition in the abovementioned CEXs.<\/p>\n

Also Read: Bitcoin Halving Nears 100 Day Countdown; BTC Price Rally To Begin?<\/a><\/strong><\/p>\n

XRP Price Tumbles<\/h2>\n

As of writing, the XRP price<\/a> chart showcased a fall of 1.01% over the past 24 hours and is currently trading at $0.5769. Moreover, this fall was further accompanied by a weekly down surge of 8.76% and a monthly drop of 7.07%.<\/p>\n

Meanwhile, amid the token\u2019s constant drop recently, a crypto analyst going by the name XRP Captain shed light on the token\u2019s performance in 2017 and compared it to its current market dynamics. According to XRP Captain, a potential 100x surge for the Ripple-backed token lies shortly ahead, propelling market optimism. However, remarkably, according to another crypto analyst, Cryptoes, a weekly close above the blue area remains of utmost importance for XRP, fueling further inferences for the token.<\/p>\n

Also Read: Crypto Prices Today: Bitcoin Price (BTC) Recovers, PEPE Drops, Aptos (APT) Rallies 16%<\/a><\/strong><\/p>\n

<\/p>\n

\n
\n

\u2713 Share:<\/p>\n

<\/a><\/p>\n

\n
\n \"coingape\"
\n<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n
\n
\n

<\/p>\n

\"\"\"\"<\/div>\n
Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n

\n
\n

<\/p>\n

\"\"\"\"<\/div>\n
Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p>\n

\n
\n
\n
\n
\n<!–<\/p>\n
<\/div>\n

–><\/p>\n

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article. <\/p>\n<\/p><\/div>\n

\n \"\"\"\" <\/div>\n<\/p><\/div>\n<\/p><\/div>\n
\n

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n Crypto Stories<\/span><\/p>\n

View all<\/a>\n <\/div>\n

\n
\n
\n
\n <\/p>\n
\"De-dollarisation\"\"De-dollarisation\"<\/div>\n
BRICS: 16 Countries to Drop US Dollar in 2024 <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"altcoin-season\"\"altcoin-season\"<\/div>\n
3 tokens to turn $1 into $15 in Q1 2024 <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"ChatGPT\"ChatGPT<\/div>\n
Free Access Guide: ChatGPT-4 and DALL-E3 on Your Smartphone <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

XRP, one of the most popular cryptocurrencies fostered by Ripple Labs, curates a hurricane of speculations across the crypto realm today as the token recorded significant whale transfers to a CEX recently. Intriguingly, these whale transactions have stirred a whirlpool of inferences among crypto market enthusiasts globally following their emergence amid the token\u2019s price drop. […]<\/p>\n","protected":false},"author":2,"featured_media":158756,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-224045","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/224045","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=224045"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/224045\/revisions"}],"predecessor-version":[{"id":224047,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/224045\/revisions\/224047"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/158756"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=224045"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=224045"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=224045"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}