XRP News: Massive $367M Transfer Sparks Speculation – What’s Next?

A large XRP transaction grabbed the attention of the crypto market, as a whale moved over 167 million XRP between different wallets. An approximately $367 million transfer was made amid a price correction, making one wonder about the purpose of such a move and its subsequent effects on XRP price movements.

Whale Moves Over 167 Million XRP Amid Market Decline

A Ripple whale transacted 167,075,744 XRP in a single transaction, noted Whale Alert, a platform that monitors large cryptocurrency transactions. The funds were moved into unknown wallets, and market participants guessed why the move was made.

Notably, the transaction was made at a time when XRP has been losing ground within the past 24 hours, with prices down 3.23 percent and in the last week by 10.73 percent. At the time of writing, XRP was trading at $2.11, with traders probing as to whether this movement connotes an accumulation phase or a sell-off.

CryptoQuant Data Shows Increased Network Activity

Data from CryptoQuant reveals that XRP Ledger’s total tokens transferred have increased, reflecting heightened network activity. Historical trends suggest that large transfer spikes often coincide with price movements.

Source: CryptoQuant

A previous major spike in XRP transfers occurred in late 2017, aligning with the asset’s all-time high of nearly $3.50 before experiencing a rapid decline. Recently, a similar pattern has emerged, with XRP surpassing $2 alongside increased transaction volume. Some analysts view this as a potential shift toward bullish momentum.

Active Addresses Fluctuate as the Market Adjusts

In addition to transaction volume, CryptoQuant data also highlights fluctuations in active XRP addresses. Historically, the number of active addresses has surged during major price movements, as seen in 2018 (140K+) and 2021-2022 (160K+).

Recent data shows a rise in active addresses leading up to the latest price increase, though post-peak declines suggest short-term speculative activity rather than sustained network growth. The correlation between active addresses and price movements remains a key metric for traders monitoring XRP’s future price trajectory.

Experts Predict a Potential Price Rebound

Despite XRP’s recent decline in price, analysts remain optimistic about its future. Crypto strategist Dark Defender has predicted that the price of XRP might rocket up to $333 if it has the same patterns as its bull run in 2017.

Additionally, interest in XRP continues to grow from an institutional perspective as weekly inflows are higher than Bitcoin and Ethereum for the fourth week in a row. The announcement of the Crypto Strategic Reserve and discussions about the possibility of an XRP ETF are attracting more investors to the crypto space.

The recent whale activity, price dynamics, and market participation could provide some insights into whether XRP is moving in an accumulation or a climax phase in the upcoming weeks.