XRP Whales Shift Over $200M in Tokens amid Ripple-Cardano Partnership Speculation

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As a seasoned researcher with over two decades of experience in the ever-evolving world of finance and technology, I find myself intrigued by the recent surge in XRP‘s price. The whale movements, coupled with the rumors of a potential collaboration between Ripple and Cardano, have set the stage for an exciting period in the crypto landscape.

In the recent week, XRP has garnered significant focus, experiencing a noteworthy jump of 65% in the last seven days. Notably, two substantial investors, often referred to as ‘whales’, transferred 210.93 million XRP tokens worth approximately $233.76 million. This movement suggests a heightened investor interest in XRP. Here’s a quick snapshot of its current status:

Whale Alert reports that a transaction shifted 110.93 million XRP, equivalent to approximately $123.59 million, from Binance to an undisclosed wallet. Another transaction saw the transfer of 100 million XRP ($110.17 million) between unspecified wallets. These large transactions typically suggest strategic market moves, potentially preceding significant announcements or partnerships.

As a crypto investor, I’ve noticed some significant whale activities recently, which have sparked speculation about a potential partnership between Ripple and Cardano. Last week, I overheard a conversation between Charles Hoskinson, founder of Cardano, and Brad Garlinghouse, CEO of Ripple. In the chat, Hoskinson praised Garlinghouse as an exceptional CEO, hinting at a collaborative future for our beloved crypto projects. In response, Garlinghouse emphasized the necessity of unified rules in the cryptocurrency sector, suggesting a need for “clear guidelines on the road” ahead.

Furthermore, Charles Hoskinson has been engaged in talks with Ripple’s Chief Technology Officer, David Schwartz. It is said that they explored the details of Cardano’s Midnight project, an innovative endeavor aimed at improving privacy within the decentralized environment by focusing on confidential transactions.

In a “Question and Answer” (Q&A) session, Hoskinson expressed his idea of a possible partnership between the two firms. He mentioned that integrating Cardano’s cutting-edge blockchain technology with Ripple’s strong liquidity network and stablecoin options could lead to remarkable progress in the field.

XRP Bullish Momentum despite Short-Term Dip

The cost of XRP is presently at $1.09, and it has experienced a minor decrease of around 2.5% over the past day. Nevertheless, technical signals hint that this decline could be short-lived, implying that positive price trends may continue.

In simpler terms, when the line representing the average price over the past 50 days goes above the line indicating the average price over the past 200 days on a daily chart (a pattern known as a “golden cross”), it often indicates a prolonged period of rising prices in the future. This pattern has been linked with positive market trends historically.

Furthermore, it’s worth noting that XRP’s market capitalization currently sits at approximately $62 billion, and over the past month, it has more than doubled. This significant increase indicates robust investor trust. Analysts predict that surpassing the resistance level of $1.14 could trigger additional growth, possibly paving the way for another bull run.

On Monday, Moon Lambo, a well-known commentator, pointed out that XRP experienced a 20x surge during the last market cycle. He believes this cycle might yield even more impressive returns as institutional investment continues to pour into the cryptocurrency sector. The analyst advises gradually selling at prices ranging from $5 to $8, while keeping some for a potential price jump beyond $10.

As whales adjust their positions and technical signals line up, it seems likely that XRP is on track to achieve more significant accomplishments. If reports about a potential collaboration between Ripple and Cardano prove true, this could be an even more promising development for XRP.

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2024-11-20 13:00