29,532,534 XRP Stun Top American Crypto Exchange

In the last 24 hours, XRP has rebounded from $2.06 to $2.14 as bullish sentiment supports asset gatherings. This development could have led to other actions in the broader cryptocurrency market. In particular, speculation was fueled by the massive transfers of XRP Hitcoinbase, which exceeded 29 million within this time frame.

XRP Whale Movement Stimulates Bearish Fear

With each Whale Alert Update for X, 29,532,534 XRP forwarded 29,532,534 XRP, worth $62.6 million, to Coinbase. Large transfers signal the positioning of large holders for trading on the largest crypto exchange in the US

Generally, it suggests that if the token moves to exchange, the owner may have plans to sell it. In this large transfer, the XRP community can cause bearish feelings, which can cause concern.

If a whale decides to dump more than 29 million XRP into the market, it could cause similar sales and put downward pressure on prices. This development could wipe out the small profits that coins have registered in the last 24 hours.

Whale alert updates are important as large-scale holder behavior can have a significant impact on market dynamics and cause market volatility.

Many who follow the performance of the coin may be interested in the impact of this large transfer on price.

XRP’s bullish momentum faces testing

As of press time, XRP prices had changed hands at $2.12, up 3.49% over the past 24 hours. XRP investors are actively trading coins as trading volumes have increased 50.45% to $2.43 billion, according to CoinMarketCap data.

A mild rally means that XRP is no longer cheaper than the price within the last 30 days when it traded for $1.69. DIP provided investors, including whales, with the opportunity to buy at a discount.

If market participants are still bullish, then willingly snap a buyer, the impact of the 29 million XRP sales may not be so serious. This is because the current rise in prices is attributed to market involvement from investors.