In an interesting turn of events, a substantial amount of XRP tokens, valued upto $106,691,613, mysteriously changed hands as the price climbed. This has instantly sparked debate in the community. Sparked a discussion is an understatement. This mysterious exchange started a hot topic of conversation due to its coveted nature.
The incident instantly captured the attention of blockchain analysts and sleuths. One such sleuth, called Whale Alert, found that there might be some connection between this mysterious transfer and the XRP price movement.
What Pushed The Price Higher?
The long-drawn repercussions of the hand exchange have yet to be assessed. However, general metrics suggest that the price jumped by 9.48%. While some suggest that the exchange triggered the price action, Others believe that BTC worked like a catalyst.
After a rough patch, BTC finally broke the $100k mark. This has automatically driven the price upwards, with the aid of market makers and an ecosystem surge. Another catalyst that could have contributed to this is the SEC vs XRP lawsuit.
Judge Analisa Torres, the lead of the XRP vs SEC lawsuit, confirmed that both parties reached an agreement and that there can be some resolution after a long fight. Therefore, this has also played a crucial role in increasing the price.
Therefore, investors are showing renewed interest in XRP, and this can make wonders in the end.
