What happened. 18,744,800 XRP was transferred from an unidentified wallet.
This morning, data from Whale Alert showed that 18,744,800 XRP, worth around $55.9 million, were transferred from an unidentified wallet to one of Ripple’s main accounts. The unknown source and direct route to the crypto company of course caught the attention of traders who monitor these flows for insights into how Ripple manages its XRP holdings.
Those who closely follow these movements, such as “XRPwallets” account” say the process is familiar. Ripple brings tokens back into its main account before redistributing them into different channels, such as On-Demand Liquidity corridors, exchange-traded products, custodial structures and investment vehicles.
While this makes the transfer less mysterious, the lack of context around the timing leaves room for speculation in the market.
According to Tudor Jones, the current environment is “conducive” for “massive appreciation” of various assets.
During a recent CNBC interview, billionaire Paul Tudor Jones predicted that a massive rally could take place next year. However, this blow-off top will likely be followed by a massive 2000-style crash, according to the billionaire.
Jones believes that the markets are reminiscent of 1999, the year when the massive dot-com bubble was on the verge of reaching its peak. He recalled that the Nasdaq doubled within just several months (from October 1999 to March 2000).
Tudor Jones is not certain that the same exact scenario will play out this time around, but all the ingredients are already in place. In fact, the current setup is “potentially much more explosive” compared to 1999, the Tudor Investment Corporation founder argued.
Dogecoin short-term price action is now in spotlight.
Dogecoin might be on the verge of a short-term golden cross, with key levels now crucial to watch. As seen on the four-hour chart., the 50 MA has turned up and is ready to converge with the 200 MA. A golden cross will emerge if the 50 MA crosses above the 200 MA, a bullish indication in the short term.
Dogecoin has marked four consecutive green four-hour candles as the price rebounded early Monday. Dogecoin saw a surge on Sunday to $0.2655 as Bitcoin rose to all-time highs above $125,000 before retracing.
