XRP Price To Hit New ATH Soon, Hints Crypto Expert
The post XRP Price To Hit New ATH Soon, Hints Crypto Expert appeared first on Coinpedia Fintech News
The discovery of a ‘Musk’-tagged smart wallet in XRP’s liquidity tracking system has sparked speculation about its potential to predict the cryptocurrency’s next all-time high. Drawing parallels to a strategic move in 2017 when XRP reached its previous all-time high, many anticipate a similar occurrence in the coming year.
Musk’s Crypto FascinationRecent crypto enthusiasts behind XRP Liquidity took to X to shed light on a smart money wallet linked to an address tagged as “Musk.”
Sometimes I like to browse thru the XRP wallets.
This one which is associated with a wallet named Musk whom is infatuated with all the famous astrologers. Musk was the newer wallet but sent all the XRP to a no name wallet now containing 17M XRP. This wallet timed the 2018 ATH.. pic.twitter.com/PaSMShFfQA
Interestingly, the owner of this wallet appears to have a keen interest in figures related to astronomy and science, observed from tags like Isaac Newton, Andreessen, Turing, and others.
Meanwhile, these wallets were activated between 2013 and 2014, and have become noteworthy due to a newer unknown wallet (rpdfM4K) activated by the Isaac Newton address in August 2017.
Notably, this mysterious wallet received all the XRP holdings from other tagged addresses in a consolidated move on Aug. 26, 2017, amassing a balance of 20 million XRP.
Revealing Historical MovesWhile the wallet has kept most of these tokens for over six years, a notable event caught the XRP Liquidity team’s attention. In December 2017, the wallet made a strategic move by transferring 2.99 million XRP to Bitstamp, just days before XRP achieved its all-time high of $3.31.
During the bull run that started on Dec. 11, 2017, the wallet executed three equal transactions to Bitstamp on Dec. 14, 2017. Remarkably, XRP surged to its ATH a mere 21 days after these transactions.
Despite a slight drop in balance to 17 million XRP following the transfers, the wallet has HODLed this amount since then.
Decrypting the Future?The XRP Liquidity team now suggests that investors must keep a close eye on this mysterious wallet. According to their analysis, if the wallet initiates another batch of XRP transfers, it could serve as a potential signal that XRP is gearing up for another all-time high.
As of now, XRP is trading at $0.5612, reflecting a 1.14% increase in the past 24 hours. Despite its upward movement, some investors express dissatisfaction with XRP’s comparatively slow growth in the current bullish market.