XRP Price Prediction as XRP Jumps 7% and Whale Moves $17 Million in Assets – What’s Going On?
XRP (XRP), the cryptocurrency that powers the XRP Ledger launched by US fintech firm Ripple Labs back in 2011, has jumped nearly 8% in the past seven days, with more than 3.5% of these gains coming in the last 24 hours after XRP hit $0.60 for the first time since mid-August on Tuesday.
XRP has been in a strong uptrend since finding support at its 200DMA last week, and after breaking above a $0.46-$0.55ish range that had been in play for around two-months.
The cryptocurrency’s latest gains come amid a Bitcoin (BTC)-led push higher in the broader cryptocurrency market on optimism about institutional adoption with the approval of spot Bitcoin Exchange Traded Funds (ETFs) in the US seemingly nearing.
However, Bitcoin has been consolidating in recent days.
The explanation for XRP’s latest pump could be growing on-chain evidence of increasing whale accumulation of XRP, as seen on the XRP Ledger.
Indeed, according to on-chain tracking website Whale Alert, 30 million XRP tokens were recently taken out of Bybit and transferred to an unknown wallet.
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