Crypto Whale Transfers 210 Million XRP

Bittime - In the last 24 hours, crypto whales made large transactions moving more than 210 million XRP. This large transaction comes amidst increasing speculation about a possible partnership between Ripple and Cardano, which has many people hoping that XRP will soon see a price spike. 

Large Transactions Made by Whales

According to data from Whale Alert, two large transactions occurred in a short time span, moving a total of 210,930,712 XRP, which is equivalent to approximately 233.76 million US dollars. 

The first transaction involved moving 110 million XRP (worth 123.59 million dollars) from Binance to an unidentified wallet. Meanwhile, the second transaction transferred 100 million XRP (worth 110.17 million dollars) between two wallets of unknown origin.

Large XRP movements like this are often a signal that whales are reorganizing their strategy, usually ahead of major developments in the crypto market. Some believe that this movement is related to speculation regarding Ripple's partnership with Cardano, which is increasingly attracting the attention of market players.

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Rising Speculation of Ripple and Cardano Partnership

The news of this huge transaction comes along with increasing speculation about a possible partnership between Ripple and Cardano. Several meetings and interactions between David Schwartz, Chief Technology Officer (CTO) of Ripple, and Charles Hoskinson, founder of Cardano, have fueled rumors that the two mega projects might join forces in a strategic collaboration. This further adds to the belief that XRP has the potential to experience a price spike in the near future.

Positive Indicators for XRP Price Increase

Although the price of XRP recently experienced a decline after failing to break the resistance level at $1.14, a number of technical indicators suggest that XRP may be on a more positive path. 

In the daily price movement chart,

Apart from that, the MACD (Moving Average Convergence Divergence) indicator also remains in the positive zone, which indicates bullish momentum. The MACD histogram is increasingly showing a strengthening uptrend, which makes many analysts believe that XRP could soon continue its rally despite a temporary price correction.

XRP Price Surge Prediction

Despite a price correction in the near term, many analysts remain optimistic about XRP's long-term prospects. A well-known crypto analyst, CrediBULL Crypto, predicts that XRP could reach $20 in this market cycle. The prediction is supported by XRP's historical performance showing great potential despite regulatory challenges.

Moon Lambo, an influential crypto commentator, also noted that XRP was able to reach a price of $2 in the previous market cycle despite being under legal pressure from the SEC. 

Now, with Ripple's victory in several legal cases, many believe the price of XRP can surpass its previous peak. Moon Lambo even expressed his belief that the price of XRP could exceed the previous price level, considering the legal clarity that Ripple now has.

Conclusion

With large whale transactions and speculation regarding a Ripple and Cardano partnership, many expect XRP to experience a significant price spike. Even though the price is currently undergoing a correction, the emerging technical pattern and Ripple's legal victory provide optimism that the XRP price can shoot up again. Crypto analysts are increasingly confident that XRP can reach $5 to $10 in the next market cycle, considering the increasing flow of capital entering the crypto market. XRP holders must continue to monitor these developments, because the potential for large price increases awaits.

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