Outstanding amount of XRP has been transferred by anonymous wallets as XRP shows potential to reach $30 in 2024
Whale Alert blockchain tracker reported that in the past five hours, approximately 338 million XRP was removed by anonymous wallets in two transactions.
While the XRP price is down more than 5% over the past 24 hours, prior to that, the chart demonstrated bullish behavior.
Whales Shovel 337.6 Million XRP
The above crypto tracker spotted two transactions – one moving an astonishing 288,684,193 XRP and the other 49,000,000 XRP. Together, these two bales of XRP are worth approximately $117.7 million in fiat currency.
Two days ago, on Nov. 19, a transfer of similar size was detected by Whale Alert; 296,396,865 XRP evaluated at $113,756,355 were moved between wallets that the crypto tracker marked as “unknown.”
XRP price shows bullish behavior
As recently covered by U.Today, the XRP chart has formed a pattern that dates back to 2013-2017, before the XRP price reached an all-time high of $3.84 – a bullish triangle.
Back then, after exiting the pattern, the price of the Ripple-affiliated coin jumped a mind-blowing 4,430%.
So far, the breakout from the pattern has been overshadowed by the negative impact of the FTX scandal, when bitcoin also briefly fell below the $16,000 level, a level not seen since early 2020.
However, if current developments on the chart play out correctly, by October 2024, XRP might be able to reach $30 on momentum.
