Enormous XRP transfer of 29 million units: speculation about institutional interest and possible course effects

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Noticeable XRP transaction attracts attention of the crypto community

Last Saturday, a remarkable XRP transaction caused a sensation in the crypto community. A user on the platform X discovered a massive transfer of 29 million XRP, which corresponds to an estimated value of over $ 62 million. The transfer was carried out by a previously unknown wallet, which immediately triggered speculation within the XRP community.

Large movements of cryptocurrencies can have significant effects on the course - both in a positive and negative point of view. Some users interpret this transaction as a possible sign of growing institutional interest in XRP, which could be advantageous for the token in the long term.

whale activity could indicate institutional interest

In addition to the transmission mentioned above, several large transactions of so -called "whales" were observed this week. According to an analysis of the TimestaBloid portal, these movements could indicate institutional use of XRP. It is rather unlikely that private investors transferred such large amounts, worth several dozen million dollars. This increases the likelihood that professional actors are involved in the transactions.

The exact reasons for these enormous transactions remain unclear for the time being. Since the wallet addresses involved are not publicly visible, the origin and target account remains in the dark. It may be an internal redistribution of assets for additional protection or storage in Cold Wallets.

XRP course under pressure: Can the $ 2 mark be held?

Currently XRP faces challenges. The course is around $ 2.06, which corresponds to a decline of 5.9 % within the last 24 hours. The psychologically important 2-dollar brand is under pressure again. This downward movement follows a general decline on the cryptom market, which is reinforced by persistent concerns about interest increases in the USA and increasing number of inflation, both factors that can affect the trust of investors.

Despite the difficult market development, there are signs of hope under XRP investors. The long-term legal examination of the US stock exchange supervisory authority SEC has now ended, and speculation is circulating about the possible introduction of a Spot Exchange Traded Fund (ETF) for XRP on the US exchange in 2025.