Crypto
$2.2B Whale Buy Sends XRP Price Soaring Towards $1.60 Resistance Zone
XRP's price has surged after a $2.2 billion whale buy, with large holders increasing their balances by roughly 1.54 billion tokens over a 96-hour period.
The accumulation added fresh fuel to the move, pushing XRP's price back above $1.50 and into the $1.55-$1.60 resistance zone.
A large concentration of previously traded supply sits at this level, with on-chain data showing roughly 2.5 billion tokens previously changed hands around $1.60.
Moscow Exchange's recent launch of XRP perpetual futures may also be contributing to the price increase, as it provides more investment options for qualified investors.