Whale Alert blockchain tracker has reported that over the past five hours, nearly 338 million
While the XRP price is down more than 5% over the past 24 hours, prior to that, the chart demonstrated bullish behavior.
Whales shovel 337.6 million XRP
The aforementioned crypto tracker spotted two transactions — one carrying an astounding 288,684,193 XRP and the other moving 49,000,000 XRP. Together, these two lumps of XRP are worth roughly $117.7 million in fiat.
Two days ago, on Nov. 19, a transfer of similar size was detected by Whale Alert; 296,396,865 XRP evaluated at $113,756,355 were moved between wallets that the crypto tracker marked as «unknown.»
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 288,684,193 #XRP (100,474,280 USD) transferred from unknown wallet to unknown wallethttps://t.co/DogpidDZ66
— Whale Alert (@whale_alert) November 21, 2022
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 296,396,865 #XRP (113,756,355 USD) transferred from unknown wallet to unknown wallethttps://t.co/sFLD47K1l9
— Whale Alert (@whale_alert) November 19, 2022
XRP price shows bullish behavior
As covered by U.Today recently, the XRP chart formed a pattern that, back in 2013-2017, preceded a surge of the XRP price to the all-time high of $3.84 — a Bullish Triangle.
Back then, after exiting the pattern, the price of the Ripple-affiliated coin jumped a mind-blowing 4,430%.
So far, the effect of exiting the pattern has been hit by the negative impact of the FTX scandal, when even Bitcoin dipped below the $16,000 level briefly, something not seen since early 2020.
However, if current developments on the chart play out correctly, by October 2024, XRP might be able to reach $30 on momentum.