XRP Whale Alert: $51,849,820 XRP Withdrawn From Major Crypto Exchange

A significant XRP transaction has recently caught the attention of the crypto community. In recent hours, 20,000,000 XRP (worth $51,849,820) was transferred from Gemini to an unknown wallet, according to blockchain data tracker Whale Alert.🚨 🚨 🚨 20,000,000 #XRP (51,849,820 USD) transferred from #Gemini to unknown wallethttps://t.co/udLhT1ZQbdWhile the exact reason for the move remains unknown, there are potential explanations. Large withdrawals from exchanges often indicate accumulation by whales, reducing selling pressure.Moving XRP to a private wallet may indicate long-term holding rather than immediate liquidation, which is also a potential bullish signal. Sometimes, such large transactions hint at institutional players making strategic moves or just mere funds' reshuffling.XRP, the third largest cryptocurrency by market valuation, has traded flat between $2.30 and $2.83 recently, despite excitement from the Coinbase SEC case dismissal announcement and the U.S. Securities and Exchange Commission acknowledging a slew of XRP ETF filings.Despite this, the number of whale and shark wallets continuously increases, according to Santiment. There are 261 more 100,000 XRP wallets than 10 weeks ago, indicating a solid level of confidence from key stakeholders.XRP price actionXRP has barely moved in the last 24 hours, with its price tightening in a small range since the drop to lows of $2.50 on Feb. 21. At the time of writing, XRP was up 0.10% in the last 24 hours to $2.57, below the daily moving average of 50 at $2.72.XRP has been consolidating sideways since Feb. 3, with the general trend leaning bullish. However, stays in limbo until the price breaks above $2.83 or falls below $2.30. The flat RSI slightly below the midpoint suggests that XRP may continue within the symmetrical triangle for some time. The next trending move is expected to begin with a break above or below the triangle.According to crypto analyst Ali, a breakout from the triangle could put XRP on course for a 14% price move. XRP might reach $3.40, while a drop below the support line could lower the price to $1.90.Currently, liquidity remains at both demand and supply levels for XRP, implying that a break of these levels might most likely determine XRP's ultimate direction. With the SEC’s acknowledgment of more XRP ETF applications, the altcoin's prospects for growth in 2025 are rising.