Monday, June 2, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

XRP Whale Moves $200 Million In Tokens to New Wallet

Simon Osuji by Simon Osuji
October 17, 2023
in Business
0
XRP Whale Moves $200 Million In Tokens to New Wallet
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

According to Whale Alert, an XRP whale has moved 410 million tokens worth a whopping $201 million from the crypto exchange Bitvavo to a new wallet. As per the data, the wallet is brand new. Hence, we may be looking at a new whale, or an entity buying more tokens. The move follows a massive selloff in the crypto market after fake reports of the SEC (Securities and Exchange Commission) approving BlackRock’s spot Bitcoin ETF (Exchange-Traded Fund) application made rounds online.

Also Read: Forbes Predicts Bitcoin, XRP to Gain $8 Trillion Amid USD Collapse

Furthermore, the movement of tokens from an exchange to a wallet has given some relief to XRP holders. The movement of assets away from exchanges reduces the probability of them being sold.

Related posts

Western Sahara conflict builds up as Morocco gains support from the UK

Western Sahara conflict builds up as Morocco gains support from the UK

June 2, 2025
South Africa’s push to amend BEE laws for Musk’s Starlink triggers public backlash

South Africa’s push to amend BEE laws for Musk’s Starlink triggers public backlash

June 1, 2025

Nonetheless, the XRP Whale’s move did not have a positive impact on the token’s price. XRP is down by 0.7% in the daily charts and by 1.7% over the last week.

Will XRP rally anytime soon?

XRP
Source – FX Empire

Since the beginning of the year, XRP is up by almost 44.12%. This is better than Ethereum’s (ETH) almost 35% but falls short of Bitcoin’s (BTC) almost 60% growth in the same time frame. Moreover, Solana’s (SOL) performance since January completely eclipses that of all three with almost 120% gains.

Nonetheless, many anticipate XRP to gain momentum in the fourth quarter of 2024. According to Sistine Research, the token has the potential to reach a price of $1.5. This represents a growth of almost 200% from current price levels. However, the research firm highlights that the token could fall to a low of about $0.40 before making any positive strides.

Also Read: Ripple vs. SEC: Lawyer’s Predictions Point to a Potential 2027 Resolution

XRP saw a surge earlier this year due to Ripple’s partial victory in the SEC vs. Ripple lawsuit. In its verdict, a U.S. court ruled that the token was not a security when sold to retail investors. However, the court did say that the way Ripple sold the token to institutions did fall under the definition of a security.

Source link

Previous Post

AI is closer than ever to passing the Turing test for ‘intelligence’. What happens when it does?

Next Post

Become an Employer of Choice with these 9 powerful tips

Next Post
Become an Employer of Choice with these 9 powerful tips

Become an Employer of Choice with these 9 powerful tips

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

Defense One Radio, Ep. 176: Space Force Gen. Chance Saltzman

Defense One Radio, Ep. 176: Space Force Gen. Chance Saltzman

2 months ago
What it Means for APPL Stock

How Trump Helped Drive the Stock

4 months ago
ESKOM AND RAND WATER WILL IMPLEMENT MAINTENANCE PROJECTS THAT WILL IMPACT WATER SUPPLY WITHIN RAND WATER’S DISTRIBUTION NETWORK

ESKOM AND RAND WATER WILL IMPLEMENT MAINTENANCE PROJECTS THAT WILL IMPACT WATER SUPPLY WITHIN RAND WATER’S DISTRIBUTION NETWORK

1 year ago
Wolfram Research: Injecting reliability into generative AI

Wolfram Research: Injecting reliability into generative AI

2 years ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • Matthew Slater, son of Jackson State great, happy to see HBCUs back at the forefront

    0 shares
    Share 0 Tweet 0
  • Dolly Varden Focuses on Adding Ounces the Remainder of 2023

    0 shares
    Share 0 Tweet 0
  • US Dollar Might Fall To 96-97 Range in March 2024

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.