In a thrilling turn of events, XRP, one of the top 6 cryptocurrencies by global market cap, birthed a cyclone of speculations across the broader crypto market today, following the jotting down of significant whale activity within the crypto realm. On-chain data hovering over the market pointed out that a whale recently offloaded a staggering 27.95 million XRP to a Luxembourg City-based CEX amid a substantial drop below $0.53 noted by the Ripple-backed token.<\/p>\n
This seems to have garnered noteworthy interest among crypto market enthusiasts globally, as top analysts worldwide recently portrayed a bullish stance on the XRP. However, with the whale\u2019s significant offloading mirroring the fall in price further, additional inferences for XRP\u2019s bearish run in the near future appear to be birthing.<\/p>\n
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Notably, XRP Whale, a renowned crypto market analyst, today claimed the token would pump hard over the next 48 hours, contrasting the usual market sentiment of a price dip with whale\u2019s dump to exchanges. This remark by the analyst has sparked speculations further as derivatives data for the token also showcased a negative sentiment, with money leaving the futures market.<\/p>\n
XRP Whale Activity: Diving Deep<\/h2>\n
According to the data<\/a> unveiled by the blockchain tracking platform Whale Alert, a staggering 27.95 million XRP, worth $14.74 million, on the move nabbed significant attention globally. Per the data, the unknown wallet address r4wf7enWPx\u20265XgwHh4Rzn was observed transferring the aforestated amount to the mentioned CEX<\/a> today, February 14.<\/p>\n Although the token already noted a drop below the $0.53 mark when the whale offloaded this massive amount, the downward momentum for XRP continued following the selloff, curating bearish sentiments for the token.<\/p>\n <\/p>\n <\/p>\n Meanwhile, the derivatives data offered by Coinglass<\/a> illustrated a 2.44% dip in the token\u2019s open interest, reaching $617.41, additionally mirroring bearish thoughts on the XRP.<\/p>\n Simultaneously, the XRP price witnessed a substantial drop today, soon after its jump past the $0.53 mark. This fall reflects the whale\u2019s significant selloff and the drop noted in open interest, contrasting XRP\u2019s potential run to the wave three targets of $1.88<\/a>.<\/p>\n Also Read: Crypto Prices Today: Bitcoin Sustains 49K, PEPE & XRP Dip As PYTH Rallies 15%<\/a><\/strong><\/p>\n <\/p>\n As of writing, the XRP price<\/a> noted a drop of 1.21% over the past 24 hours and is currently trading at $0.5238. This drop comes after the price recently surged past the $0.53 mark, which sparked immense curiosity among traders and investors.<\/p>\n With top analysts predicting the token\u2019s bull run ahead, today\u2019s selloff, derivatives data, and price slump come contrastingly. However, XRP whale\u2019s proclamation of XRP to pump hard emerged amid the token\u2019s price slump, propelling curiosity globally.<\/p>\nXRP Price Dips<\/h2>\n
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