XRP Whale Shifts 22 Mln XRP As Price Flirts Near $0.61 Mark, Whats Next?

XRP, one of the five largest cryptocurrencies by global market capitalization, ignited a storm of speculative enthusiasm among cryptocurrency traders and investors after it moved to a major whale-centric exchange on Wednesday. The whale around the Ripple-backed token follows the price drop and is attracting a lot of attention in the broader cryptocurrency market.

Contrary to Santa's sentiments, the drop in XRP price is in line with current market sentiment as the global market capitalization is decreasing today. Additionally, a famous cryptoanalyst made some interesting comments on XRP and shed light on the future performance of the market.

Keith invested XRP on Bitstamp

Today, December 20, a huge transaction appeared on the cryptocurrency horizon on Bitstamp, with 22 million XRP worth $13.32 million. The information provided by Whale Alert has generated a lot of interest among crypto market enthusiasts amid the XRP price decline.

According to information received, an unknown wallet r4wf7enWPx...5XgwHh4Rzn was seized and transferred to a cryptocurrency exchange in Luxembourg City. As previously reported, the same wallet address transferred a large amount of XRP to Bitstamp. Additionally, the whaling saga around XRP and the aforementioned wallet is a recurring phenomenon in recent days. Apparently, this is mainly due to Ripple acquiring a strategic stake in Bitstamp on the CEX exchange.

Meanwhile, the dumping of XRP on CX coincides with the token's price drop today, leading to more speculation in the cryptocurrency space.

Also read: Ethereum (ETH) price to increase by 20% due to hard currency disruption

XRP price is falling.

At the time of writing, the XRP price has seen a slight slowdown in its growth, down 0.63% in the last 24 hours. At the current price of $0.6096, the token is sparking bearish sentiment in the broader cryptocurrency market.

However, unlike the current token price decline, a prominent cryptoanalyst has a different opinion. Famous cryptoanalyst XRP Whale claims that the token will soon show a significant increase. The analyst has appeared in several articles

Additionally, Ripple recently partnered with the Central Bank of Ireland as a Virtual Asset Service Provider (VASP), indicating further growth of XRP in the cryptocurrency market.

Also Read: Falling Prices of Existing Vechains (VET) Opens Doors for 150% Growth

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