The crypto market may be going through a tumultuous period, but whales are still active. A whale has moved huge crypto cache amounting to 36 million XRP worth over $5 million. This, besides many other lesser transfers, indicates that the XRP ecosystem is still well and active despite the market shock. However, it’s still not yet clear to where the XRP was moved since the destination addresses are unknown.
Interestingly, the same unknown wallet is revealed to have received another cache of XRP token earlier on. Even more interesting is the fact that the big transfers are happening at a time when XRP is beginning to turn things around and achieve some gains in price.
XRP Scoring Gains
After rolling down to the lows of $0.13, XRP now looks good and battling to surpass the $0.15 resistance. If this happens, the crypto might then be in a position to cruise to the $0.20 resistance.
Over the last 24 hours, the number 3 top coin has scored a 10% spike in price. At the time of this writing, XRP is trading at around $0.147, with a market cap of $6.4 billion and a trading volume totaling $2.46 billion.
Pessimists Vs Optimists
As usual, the crypto market is awash with opinions about XRP. There are those who feel that the coin hasn’t moved much to inspire their confidence. This particular group of pessimists also thinks that the recent market flash crash that also affected Bitcoin is an indication that Bitcoin isn’t yet ready to be adopted as a viable store of value or safe haven.
On the other hand, optimists believe that the crypto market is about to recover and go on a bullish push, with Altcoins like XRP expected to join in the race to the moon. Current charts indicate that XRP is gaining strength, and if it can maintain that momentum for 3 days (72 hours) it may well spring out of the bears’ grip.