After a period of quiet, $XRP has surged back into the spotlight with a flurry of high-volume transactions, totaling 75 million tokens, sparking a modest 5% price increase.
The recent blockchain analysis unveiled three significant $XRP transactions. Two of these transactions, initiated by a well-known whale, involved moving $XRP to centralized exchanges. Simultaneously, an unknown address acquired $XRP from Upbit, another centralized exchange.
READ- 4 Reasons XRP Price is Falling
While these transactions could suggest potential selling pressure, $XRP defied expectations by surging 5% after the event. This surge also boosted $XRP’s market cap, which increased by a significant $3.2 billion within 24 hours, reaching $34.55 billion.
With the price of $XRP surpassing $0.60, it is now aiming to break above the $0.65 resistance level.
The cryptocurrency’s bullish momentum is eyeing a return to its peak of $0.7440 on March 11th, although it may encounter resistance in the $0.70 to $0.74 range.