$100,318,353 XRP Transfer Between Unknown Wallets Draws Market Attention

$100 million XRP moved between anonymous wallets in the last 24 hours, drawing market attention.

Blockchain data tracker Whale Alert reported this large transaction, which saw over 73 million XRP shift between unknown wallets.

“73,179,900 XRP (100,318,353 USD) transferred from unknown wallet to unknown wallet,” Whale Alert reported.

This comes as whale holders continue to increase accumulation, with wallets with at least 10 million XRP reaching an 8-year high in their holdings.

In mid-May, Santiment reported that wallets with at least 10 million XRP held a combined 45.83 billion XRP tokens (about $68.5 billion), the most they have held since May 2018. This translates to over 68% of the coin’s supply.

XRP hits milestones

CME Group marked one year of XRP futures. Milestones reached include 1.32 million contracts traded and $62.87 billion in notional volume, which is equivalent to 28.6 billion XRP.

XRP and Micro XRP contracts offered by the CME Group provide a way to gain exposure to the price of XRP and have gained interest since launching a year ago.

At the time of writing, XRP was down 0.4% in the last 24 hours to $1.36 and down 4.34% weekly as the broader crypto market saw mixed trading action early Thursday.

XRP fell for five days in a row to return below the 50-day MA at $1.394, but the positive aspect is that the price is holding above $1.3. A return above the 50-day MA might aid a comeback with XRP eyeing a rise to the $1.61 level, where it might face resistance.

If XRP sustains above $1.61, a potential trend change might be on the cards. XRP price may then rally to $2 and later to $2.40.

On the other hand, if XRP price continues to decline, it will put bears firmly in control. This increases the chances of a break below the $1.27 support. If this happens, XRP may drop to $1.11.