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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow
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Breaking News: REX Shares Claims Its DOGE And XRP Spot ETFs Will Be Approved By US SEC Tomorrow

Whales Move Billions Of XRP Following Price Spike

Eli Dambel
Eli Dambel
2 years ago
3 mins read
XRP

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The broader cryptocurrency market has seen improvement in investor sentiment in the last weeks, and so has XRP. Even the global crypto market cap is up by 0.11%, reflecting the rate at which most tokens are rallying over the past few days.

A recent WhaleAlert report reveals massive XRP whale transfers happening amid the token’s price surge. The report showed the movement of nearly 429 million tokens (about $167 million) on multiple whale addresses in the last 24 hours.

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According to the WhaleAlert, the largest single whale transaction was a transfer of 209 million XRP worth approximately $81 million. The crypto whales added $49 million (about 123 million XRP) in multiple transactions. One whale address accumulated 94.3 million tokens ($38 million) in a transaction from Binance.

XRP Makes Top 1,000 BSC Whales List Following Price Surge

Ripple’s native cryptocurrency, XRP, has recorded a price increase of nearly 12% in the past seven days. Its trading volume has also added by 55% and is now at $1.3 billion. Despite the long-running lawsuit from the SEC against Ripple, XRP’s market cap remained unfazed, being over $19.5 billion.

However, WhaleAlert recorded outflows of Ripple’s native coin on several whale addresses. Several whales moved 97 million of Ripple’s native coin worth approximately $37 million to the Bitstamp crypto exchange.

Aside from the massive whale addresses activity, WhaleStats also reported that XRP tokens ranked the second largest cryptocurrency by dollar value held by the top 1,000 BSC (Binance Smart Chain) whales. The biggest BSC whale now holds about $27.6 million worth of the cryptocurrency.

According to recent data, XRP secured its place on the top 10 purchased cryptocurrencies by the largest BSC whales. It also made the list of the most traded token by BSC whales.

ChatGPT Gives Surprising XRP Price Prediction For March 2023

Meanwhile, Dr. Martin Hiesboeck, head of research at Uphold, recently shared a ChatGPT conversation on Ripple’s native coin via a tweet. ChatGPT is an AI model chatbot developed by OpenAI. It launched on November 2022.

Martin Hiesboeck shared a snapshot of his conversation with the ChatGPT, where he asked the robot about XRP’s moon date. After refusing to answer initially, ChatGPT told the Uphold executive that Ripple’s native coin would moon on March 23, 2023. It also added what looked like a price prediction saying, “XRP to $589,000, up yours XRPP.”

This response cracked members of Ripple’s native coin community up with laughter. Some community members responded with laughter emojis, while few saw it as a forecast that the XRP price might moon. Hiesboeck even wrote that the all-knowing AI ChatGPT has revealed when the token will moon after much persuasion.

John Deaton, blockchain enthusiast and founder of CryptoLaw, also reacted to Hiesboeck’s post, citing what people said about the $589,000 price for Ripple’s native coin. Many predictions have suggested that the crypto may hit the $100 but deemed the $589,000 price unrealistic.

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Some say Ripple’s native coin would need to rally almost 200 million percent from its current price before reaching $589,000. However, most analysts might be waiting for the verdict of the Ripple/SEC lawsuit before making predictions.

Whales Move Billions Of XRP Following Price Spike
Ripple price trades at $0.38 on 24-hour candle l XRPUSDT on Tradingview.com

According to data from CoinGecko, Ripple’s native coin has gained 11.4% in the past seven days and 13.5% in the past 14 days. However, the token trades at $0.3876.

Featured image from vjkombajn/ Pixabay and Chart from Tradingview.com
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Eli Dambel
Eli Dambel

Eli Dambel

Eli brings an eclectic point of view to market analysis. Currently, he writes about various asset classes, including Crypto and Stocks. Eli has been writing crypto oriented content for almost 6 years now and he is a hard core believer in Blockchain and is confident that it can reform the traditional financial system. He also thinks Bitcoin will become universal currency in the near future.

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You can follow Eli on Twitter: @EliDambel

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

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