XRP made a notable 4% jump on Christmas, reaching $2.31. This rally comes after a challenging period for cryptocurrencies, with Bitcoin also showing recovery signs. An on-chain data report revealed that a whale transferred 30,171,667 XRP (worth $69 million) to Coinbase.
Given the large amount, it's suspected the whale may be considering profit-taking. Whales, known for their significant market influence, frequently monitor moves like this. While exchange deposits often indicate selling intentions, the whale might be exploring other Coinbase services.
The market remains uncertain about the whale's actual motives, whether aiming for selling profits or other objectives.
