XRP’s $380M whale activity – Here’s what it means for the altcoin’s price! – BitRss

• Surge in XRP ($2.35)’s NVT ($0.30) ratio hinted at a hike in whale activity, suggesting potential volatility
• XRP’s consolidation within a symmetrical triangle pointed to an imminent breakout or breakdown

A massive transfer of 150 million XRP, valued at over $380 million, recently took place between two unknown wallets. As expected, this has sparked significant curiosity across the crypto market. 

This whale activity has caught the attention of many traders and analysts too, many of whom are now questioning whether this will trigger a major price shift or if it is simply a routine transaction.

At press time, XRP was trading at $2.36, following a 4.97% decline over the last 24 hours. This has added to the uncertainty surrounding its short-term outlook.

XRP surge in NVT ratio – What does it mean for the market?

XRP’s Network Value to Transaction (NVT) ratio registered a sharp hike, spiking to 1139.75 on 8 March from just 176 a day prior. 

This massive uptick seemed to hint at a surge in transaction volumes relative to XRP’s market cap. Consequently, this alluded to heightened activity and potentially larger movements. 

Therefore, such a significant jump could indicate that whale activity is in…