XRP Price Prediction as Mystery Whale Transfers 100 Million XRP From ‘Unknown’ Wallet – What’s Going On?
The XRP price has jumped by 10% in the past 24 hours, reaching $0.6921 after several big transfers sparked a buying frenzy yesterday.
One transfer in particular – involving the movement of 100 million XRP from one unknown wallet to another – was responsible for most of yesterday’s bullishness, with XRP now up by 8% in a week and 30% in a month.
Such activity could be a prelude to an even bigger XRP rally later in the year, when Ripple reaches a final settlement with the SEC.
Assuming that such a settlement ends up being largely positive for Ripple, the XRP price could surge aggressively, passing $1 again.
There’s a possibility that XRP could correct a little after yesterday’s big jump, with the coin’s indicators suggesting that traders overbought it.
In particular, XRP’s relative strength index (purple) has fallen to 65 after passing 70 a day ago, with the indicator continuing to point downwards this morning.
At the same time, the coin’s 30-day average (yellow) has been rising very steeply above the 200-day (blue), another sign that it’s perhaps a little too hot at the moment.
Yet given that XRP had underperformed in recent weeks in relation to other major coins, it can arguably afford to enjoy a sustained period of growth.
Its volume has certainly risen substantially, going from about $1.3 billion a couple of days ago to $7 billion today.
Such interest is likely to push the token higher in the next few days, and available data does suggest that whales are still buying up the token right now.
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