Ripple Whale Makes Big Move, Transfers 60 Million XRP ($132.2 Million) to Unknown Wallet

A massive Ripple whale transaction involving 60 million XRP, valued at approximately $132.2 million, was recently observed on the blockchain.

A substantial Ripple whale transaction, valued at over $132 million, has been detected on the blockchain by Whale Alert. The transaction involved the movement of 60 million XRP from an unidentified sender wallet to another unknown wallet.

According to Whale Alert, the massive XRP transaction, valued at approximately $132,202,106, was observed on December 23, 2024. The funds were swiftly transferred from an unidentified wallet to another unknown wallet, sparking speculation among the crypto community.

The large-scale XRP transaction, as reported by Whale Alert, occurred as follows:

🚨 🚨 🚨 🚨 🚨 🚨 60,000,000 #XRP (132,202,106 USD) transferred from unknown wallet to unknown wallethttps://t.co/nK3qDkG2Y9

— Whale Alert (@whale_alert) December 23, 2024

At the time of preparing this report, XRP was trading at $2.23, exhibiting a modest gain of 2.46% over the past 24 hours. However, over the last seven days, the token encountered a downturn, leading to a price decline of nearly 11%.

Despite the recent bearish trend, XRP price movements have attracted attention, particularly with regard to a potential breakout. Notably, the asset's trading patterns have exhibited remarkable activity.

Prominent crypto analyst Brett, known for his insights shared on X (formerly Twitter), highlighted XRP's breakout from a symmetrical triangle pattern. Despite the recent downturn, he urged investors to remain optimistic. “Surviving the XRP bear market was the hard part. Don’t let this bull market shake you out now,” Brett's message reads.

In his technical analysis, Brett emphasizes that XRP could experience a significant upward trajectory if bullish momentum takes over. Using technical analysis, Brett's chart analysis suggests that XRP could experience a strong rally if bullish momentum pushes the token above a crucial support range.

According to Brett's analysis, if XRP manages to sustain a breakout above this level, it could potentially rally toward the $5.73 price point. However, if the token fails to maintain momentum, it could face resistance at the lower end of the triangle, which is around the $2.73 price level.

This massive XRP transaction from an unidentified wallet is bound to pique the interest of market observers. If the funds re-enter circulation or are utilized in significant trades, it could influence short-term market volatility. On the other hand, an over-the-counter deal would likely have minimal immediate impact.