In the current challenging market situation, investors, traders, and institutions are uncertain about their next steps. Amidst this uncertainty, a blockchain transaction tracker, Whale Alert, recently made a post on X highlighting that an unknown whale moved a massive 32.14 million <a href="https://news.todayq.com/sec-strikes-back-will-ripples-argument-get-rejected-in-court/">Ripple</a> (XRP) tokens worth $15.6 million from the world’s biggest cryptocurrency exchange, Binance. XRP whale moves 32 million tokens&nbsp; 
Following this massive movement of XRP tokens from Binance to an unknown wallet, the price of XRP experienced a remarkable surge of 2.5% within the span of just one hour. Such an evident price increase serves as a testament to the heightened interest and confidence exhibited by investors, traders, and retailers in XRP. This interest is also evident in on-chain data. 
Open interest in XRP tokens over the last 24 hours has increased by 2.5%, with a substantial surge observed in the last 4 hours. According to data from CoinGlass, in the past 4 hours, the open interest in XRP has increased by 2.2%. This surge in open interest data for XRP highlights the recent participation of investors and traders. XRP price-performance analysis 
Following this increase in open interest and the massive token withdrawal from Binance, XRP is currently trading near $0.50. In the last 24 hours, it experienced a price surge of 2.35%. In contrast, other top cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB) have experienced declines of 0.5%, 0.7%, and 0.85% respectively over the same period. 
However, examining the performance of XRP over a longer period reveals that it gained 1.5% over the past 7 days. Over the last 30 days, however, XRP has decreased by 3.5%. 
According to expert technical analysis, XRP is at a crucial support level of $0.488 and near the 200 EMA (Exponential Moving Average). If XRP closes below $0.46 on the daily time frame, we may see a significant price drop to $0.42 in the coming days. Conversely, if market sentiment changes, we could see a price surge to the $0.66 level.

Whales move 32 million XRP tokens near support, Bullish sign?

Todayq News

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