2024

Million

April

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With the crypto ecosystem still recording an intense slump across the board, different digital currencies, including XRP, are eyeing any form of bullish trend they can catch a glimpse of. As&nbsp;<a href="https://twitter.com/whale_alert/status/1784840147202158956">recorded</a> by crypto analytics platform Whale Alert, a whale has just acquired a massive 23,037,429 XRP, reigniting what might be considered a promising push.
Per the insights recorded, the whale transferred this sum from a Binance exchange wallet. The token’s destination remains unknown; however, the wallet was activated by a Binance user. Such token transfers are indicative of revived investor sentiment - one that might stir a bout of related accumulations across the board.
<blockquote>
 🚨 23,037,429 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> (11,550,284 USD) transferred from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw">#Binance</a> to unknown wallet<a href="https://t.co/K00G3Ry7ab">https://t.co/K00G3Ry7ab</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1784840147202158956?ref_src=twsrc%5Etfw">April 29, 2024</a>
</blockquote> 
The&nbsp;<a href="https://u.today/74-million-xrp-mysteriously-shifted-to-wallets-as-whales-make-insane-moves">whale buy-up</a> is indicative of a brooding trend shift, considering that the XRP Open Interest (OI) over the past 24 hours has slipped by 2.12%. According to data from Coinalyze, XRP Open Interest has topped $380.7 million, with Perpetual Contracts taking the spotlight with $374.5 million.
This figure shows a slight slump, a metric that might see an ultimate reversal with slight reaccumulation resurfacing on-chain. The recipient address for the 23 million XRP coins is not a first-time buyer, and it currently maintains a balance of 32.113 million XRP, an indication that the transferred funds might be for safekeeping.
<h2 id="xrp-price-outlook">XRP price outlook</h2>
For the better part of the year, the XRP price has remained one of the most battered of the top 10. The yet-to-be-concluded&nbsp;<a href="https://u.today/sec-v-ripple-new-key-dates-revealed">Ripple v. SEC lawsuit</a> has continued to weigh down the performance of XRP.
While the remedies phase is hinting at a possible shift in the legal brawl, investors are generally awaiting the outcome of the negotiations before taking a position. At the time of writing, XRP is changing hands for $0.5011, down by 4.18% in the past 24 hours.
This price position is an extension of the weekly drawdown; however, a&nbsp;<a href="https://u.today/xrp-eyes-big-bullish-rebound-here-are-catalysts-to-watch">major rebound</a> is imminent, especially with the wrapping up of the Ripple-SEC lawsuit.

Massive 23 Million XRP Accumulation Spotted On-Chain

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