Whale Alert caused a stir in the cryptocurrency world today when a massive transfer of about 100 million XRP was discovered. There was an additional degree of mystery and intrigue because the transfer, which was valued at $58.74 million at the time, happened between two unidentified wallets.
Investigating Bithomp’s on-chain data further yields intriguing information on the transfer. Initially, it should be noted that both addresses are newly formed and have just two or four transactions in their transfer history.
After all of that, the receiver address “rn8oma” was the first transaction ever, and the sender address “raAmB” remained absolutely empty. Following the landing of 99.77 million XRP on “rn8oma,” the address holder sent 22 to an unidentified wallet, potentially serving as an activation transaction.
https://x.com/whale_alert/status/1827724660215099439
It is important to note that tokens were originally sent to the sender’s address via a freshly made anonymous wallet.
Given XRP’s recent price performance, this kind of action becomes intriguing.
XRP price outlook
With regard to the seventh-largest cryptocurrency, last week ended well. The price of XRP had a 6.55% increase and peaked at $0.631. This is where XRP ran into a significant dynamic resistance level once more.
Starting in 2022, this diagonal line provides support until April. But there has been a price cap on XRP in recent months, which if cracked might lead to fresh opportunities for the cryptocurrency.
Who knows, perhaps the price point will ignite the historic breakaway discussions that have been building over the past few weeks. It is predicted that XRP might experience a rise of hundreds or thousands of percent if it can break out of the triangular formation that was developed in 2018.
