A lot happened in the world of cryptocurrencies, and XRP, a digital currency from Ripple Labs, caught the attention of cryptocurrency enthusiasts worldwide after a big sale to Binance, the top cryptocurrency exchange.
According to data from the blockchain, an unidentified wallet sent about 26 million XRP to Binance on February 9. This huge move to Binance led to more speculation about the Ripple-supported coin as it appeared in the market while the price of XRP was going up.
Meanwhile, a famous cryptocurrency expert, XRP Whale, expressed strong positive feelings about the token, attracting significant attention in the market. The analyst believes XRP’s price will soar very soon, showing confidence in an upcoming increase in its value.
26 Mln XRP On The Move Grabs Attention
The Whale Alert blockchain tracking platform reported that an unknown wallet transferred a huge amount of 25.82 million XRP, valued at $13.52 million, to Binance. Despite this big sale, XRP’s price still went up today, surprising many people who follow the cryptocurrency market. Even though there are more XRP tokens available because of this sale, the price is still rising. This has made many traders and investors very curious and optimistic about XRP’s future.
Meanwhile, the data for options on the Ripple-backed token showed a rise in its value, indicating an upward trend because investors feel sure about its price direction. There was a small increase of 0.01% in open interest, and the interest in options jumped by 15.02%.
XRP Price Soars
At the time of writing, the price of XRP went up by 1.50% in the last 24 hours and is now $0.5247. The token has become more popular recently, especially since its price went above $0.52 yesterday.
At the same time, despite market doubts, the Ripple-supported token kept its price over the important $0.5 support level, starting a comeback. This movement appears to have sparked guesses about the possible start of a recovery trend for XRP.
Interestingly, another top expert, Dark Defender, just said XRP will reach $1.88 soon, which matches its current market behavior. People who are really into the crypto market are paying close attention to the token because its price movements and market behavior suggest a big price increase is coming.
Disclaimer: The information on this website isn’t meant to be taken as advice for investing money. Investing involves uncertainty, and there’s a chance you could lose your money when you invest.
