XRP Price Under Threat as Whale Unloads 42 Million Tokens – Potential Pullback to 0.60 Dollars Looms

Crypto News- Ripple Lab’s cryptocurrency, XRP, has once again captured the attention of the crypto community with notable whale transactions occurring on Friday. Amidst a surge in the token’s price, crypto traders and investors are closely monitoring the digital currency.

XRP Price Under Threat as Whale Unloads 42 Million Tokens – Potential Pullback to 0.60 Dollars Looms

Recent on-chain data, reported by Whale Alert, a platform providing insights into blockchain metrics, revealed two substantial whale transfers on December 15. The wallet address r4wf7enWPx…5XgwHh4Rzn initiated two significant transfers, sending a total of 42.6 million XRP coins to the exchanges Bitstamp and Bitso.

The wallet, previously identified for relocating large amounts of XRP to Bitstamp and Bitso, was responsible for transferring 24.1 million XRP (valued at $15.09 million) to Bitstamp and another 18.5 million XRP (valued at $11.61 million) to Bitso.

While the XRP price experienced a modest 0.77% increase in the past 24 hours, reaching $0.6323, and sustained its upward trajectory, not everyone shares the optimism. Renowned crypto analyst Egrag Crytpo expressed contrary sentiments, predicting an inevitable crash in XRP’s price that could lead to a significant setback for the Ripple community. He urges the community to brace for the impending drop, suggesting it might happen sooner than expected.

Despite the diverging opinions, the XRP market showed resilience, with a 10.49% increase in the 24-hour trading volume, totaling $1.54 billion.

Adding to the complexities surrounding XRP, Binance, a major cryptocurrency exchange, announced plans to delist the XRP liquidity pool by December 22, sparking further speculations and uncertainties in the market.