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<a href="https://u.today/xrp-secures-golden-cross-against-bitcoin-whats-next" rel="noopener noreferrer nofollow">XRP</a>, the sixth-largest cryptocurrency by market capitalization, has seen significant token transfers over the last 24 hours. Blockchain data tracker Whale Alert reported two large XRP transactions within this time frame, totaling about 44 million XRP shifted.
Both transactions involved moving substantial amounts of XRP from prominent exchanges to unknown wallets, typically a signal of either large-scale accumulation by whales or preparation for use in off-exchange activities.
According to <a href="https://x.com/whale_alert/status/1862089175060591030" rel="noopener noreferrer nofollow">Whale Alert, </a>the most recent transaction involved the transfer of 18,783,349 XRP (valued at approximately $27,227,070) from Major crypto exchange Binance to an unknown wallet.
<blockquote class="twitter-tweet">
 🚨 🚨 18,783,349 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> (27,227,070 USD) transferred from <a href="https://twitter.com/hashtag/Binance?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Binance</a> to unknown wallet<a href="https://t.co/MXn2Mv3r9T" rel="noopener noreferrer nofollow">https://t.co/MXn2Mv3r9T</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1862089175060591030?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 28, 2024</a>
</blockquote>
This substantial movement was preceded by another significant <a href="https://x.com/whale_alert/status/1861940029787902326" rel="noopener noreferrer nofollow">transfer</a> of 25,000,000 XRP (worth around $36,676,055) from Upbit to an unknown wallet.
Large transactions like these often lead to speculation about the motives behind them; however, the actual explanation behind these transfers remains unknown.
The transfer of XRP from exchanges to unknown wallets could indicate institutional investors or whales accumulating tokens for long-term holding. It might indicate a move to cold storage reducing available liquidity on exchanges and potentially signaling bullish sentiment. On the other hand, the transfers might be just a reshuffling of funds.
<h2 id="xrp-price-action">XRP price action</h2>
At the time of writing, XRP was up 3.29% in the last 24 hours to $1.46. This <a href="https://u.today/xrp-to-2-this-crucial-level-needs-to-be-cleared-first" rel="noopener noreferrer nofollow">price</a> movement suggests a positive market response, probably driven by the overall bullish sentiment on the cryptocurrency market, which saw Bitcoin make a shot at the $98,000 level.
XRP fell by over 17% four days after reaching a multi-year high of around $1.63. However, XRP still retains its weekly and monthly gains. XRP is 29% weekly, while monthly, XRP is up by almost 180% in its best month since April 2021.
XRP rebounded from lows of $1.28 in Tuesday's trading session to reach highs of $1.52 in Wednesday's session. The rally stopped short, with today's highs reaching $1.49.
If the rebound is sustained, XRP might eye the psychological milestone of $2. On the other hand, if the XRP price declines, the $1 level could act as short-term support. A deeper retracing, however, may revisit the $0.85 level. <a href="https://u.today/43-million-xrp-in-24-hours-heres-what-happened" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

43 Million XRP in 24 Hours: Here's What Happened

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