Ripple transfers $652 million in XRP as price approaches $2.5

As we enter the new year, major cryptocurrencies have shown impressive price increases over the past few days, and as the entire crypto market turns bullish, Ripple has been driving the big moves in XRP over the past few days.

Amid this bullish market situation, large-scale XRP transfers from Ripple have attracted the attention of the crypto community. The transfer was identified by on-chain tracking firm Whale Alert, and many are wondering what the San Francisco-based blockchain company is up to.

Ripple moves 300 million XRP at once

ripple As trading activity across the market continues to increase, the crypto market was surprised by a huge transfer of 300 million XRP on Monday, January 5th.

This move comes as XRP continues to rise further in price, reversing Bitcoin and Ethereum in daily price gains. Over the past day, Bitcoin and Ethereum recorded price increases of 3.24% and 2.38%, respectively, while XRP led the way with a price increase of over 6% during the same period.

In this transfer worth over $652 million, Ripple sent a large amount of XRP to unverified wallets in one transfer.

While such large-scale transfers from Ripple have previously been interpreted as potential sell-off attempts, the cryptic nature of this move makes it more difficult to determine whether Ripple is simply changing positions or selling its holdings amid an ongoing price rally.

Nevertheless, speculation across social media suggests that this transfer may have been caused by Ripple’s recent operational activities, possibly related to strategic partnerships or internal financial management.

XRP regains $2.2

XRP As demand continues to grow across the broader cryptocurrency market, its price continues to rise significantly.

Amid this positive price movement, XRP regained its long-lost $2.2 and broke through a major resistance zone.

As the price rally continues to intensify, holders are confident that the asset can return to its $2.5 target in the near future.