Despite the fluctuating performance of the crypto market, the price of XRP remains in a bullish pattern, holding above the critical $0.60 mark. Whale Alert has detected a significant transfer of 23,690,289 XRP, valued at $14,432,839, from a Binance exchange wallet to an unknown wallet.
While the reason for this substantial shift is unknown, moving tokens from a major exchange wallet is often associated with long-term investment strategies. Whales Accumulate – XRP Price Continues to Rise Since hitting a low earlier this year, the price of XRP has been on the rise, with whales conducting numerous transactions, each amounting to more than $1 million. At the time of writing, the recipient's wallet held approximately 39.942 million XRP, worth around $24.38 million.
XRP is currently trading at about $0.6104, up 1.25% in the last 24 hours, with a trading volume of $935.74 million. This makes it the eighth-largest cryptocurrency by trading volume. Despite this strong performance, the current price remains below the 12-month high of $0.718, reached on March 12.
On the other hand, CNF noted that a well-known analyst predicts significant upside potential for the XRP price. According to the analyst, Ripple's token could rise to $0.85 and potentially reach the long-anticipated target of $1.
Additionally, as previously reported, Ripple intends to release 1 billion XRP tokens, valued at $609 million, on August 1, which could impact the market. Furthermore, Ripple CEO Brad Garlinghouse believes that the Archax alliance could lead to exponential growth in the tokenization of real-world assets (RWA).
