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Whale Alert stunned the crypto space today when a colossal transfer of nearly 100 million XRP surfaced. The transfer, worth $58.74 million at the time, took place between two unknown wallets, adding an extra layer of intrigue and mystery.
Digging deeper into Bithomp’s on-chain data reveals interesting details about the transfer. First of all, both addresses are freshly created, and their transfer history consists of only two to four transactions.
Furthermore, the sender address “raAmB” remained completely empty after all that happened, while the recipient address “rn8oma” was the first transaction ever. After 99.77 million XRP landed on “rn8oma,” the owner of the address moved 22 to another unknown wallet, which could be an activating transaction.
It is worth noting that the sender’s address also initially received its tokens from a newly created anonymous wallet.
🚨 🚨 🚨 97,225,384 #XRP (58,740,736 USD) transferred from unknown wallet to unknown new wallethttps://t.co/PdFTroxDsv
— Whale Alert (@whale_alert) August 25, 2024
Such activity looks interesting in light of XRP’s recent price performance.
XRP price outlook
Last week ended on a positive note for the seventh largest cryptocurrency. As a result of a 6.55% surge, the price of XRP reached a high of $0.631. Here, XRP once again collided with a major dynamic resistance level.
This diagonal line begins in 2022 and acts as support through April. However, in recent months, there has been a ceiling for the XRP price that, if broken, could open up new horizons for the cryptocurrency.
Who knows, maybe it is the price point that will kick off the historic breakout talks that have been heating up in recent weeks. It is speculated that if XRP can break out of the triangle pattern formed in 2018, it could see a spike worth, if not thousands, then hundreds of percent.
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