XRP has experienced a drop in value over the last day, struggling to break through the $1.14 resistance level.
This price adjustment comes as major whale transactions have taken place, with over 210 million XRP moved across two separate transfers. These movements are stirring talk of a potential partnership between Ripple and Cardano.
In the past 24 hours, Whale Alert reported two massive XRP transfers. One saw 110.9 million tokens, valued at $123.6 million, moved from Binance to an unidentified wallet. Another transaction involved 100 million XRP, worth about $110.2 million, exchanged between two unknown wallets.
Whale activity like this often points to strategic moves ahead of potential shifts in the market. Despite XRP’s recent price drop, the mood remains cautiously optimistic, with many watching for any signs of a significant change driven by these large transfers.
Adding fuel to the fire, speculation about Ripple’s potential collaboration with Cardano is growing. Public interactions between Ripple’s CTO, David Schwartz, and Cardano’s founder, Charles Hoskinson, have intensified rumors of a new partnership in the works.
Ethereum investors who bought at higher price levels are now struggling to inject new capital into the market, raising doubts about the cryptocurrency’s ability to regain momentum, according to Chinese on-chain analyst Murphy.
Dogecoin’s network has seen a massive uptick in activity, with the number of active addresses skyrocketing by 400%, according to blockchain analytics.
Ella Zhang, head of YZi Labs (formerly Binance Labs), has observed a noticeable change in crypto investment patterns.
21Shares has decided to shut down its Bitcoin and Ethereum futures ETFs, with liquidation expected to take place by March 28.