The crypto space is incredibly fascinating, and you’re about to find out why we say so!
A smart wallet labeled ‘Musk’ has surfaced in XRP’s liquidity tracking system, raising questions about its role in predicting the cryptocurrency’s future peaks. Comparisons to a strategic move in 2017 that led to XRP’s previous all-time high have ignited anticipation for a potential repeat in the coming year.
Unveiling the ‘Musk’ Connection
XRP Liquidity enthusiasts recently highlighted a smart money wallet associated with an address tagged as “Musk.” Notably, the wallet’s owner seems fascinated with astronomy and science, evident from tags like Isaac Newton, Andreessen, Turing, and others.
Activated between 2013 and 2014, these wallets have gained attention due to a newer, unknown wallet (rpdfM4K) activated by the Isaac Newton address in August 2017. This mysterious wallet consolidated XRP holdings from other tagged addresses on Aug. 26, 2017, accumulating a balance of 20 million XRP.
Revealing Historical Moves
While holding onto most of these tokens for over six years, the wallet made a significant move in December 2017. It transferred 2.99 million XRP to Bitstamp just days before XRP reached its all-time high of $3.31 during the bull run that began on Dec. 11, 2017.
Executing three equal transactions to Bitstamp on Dec. 14, 2017, the wallet caught attention as XRP reached its all-time high a mere 21 days later. Despite a slight drop in balance to 17 million XRP post-transfers, the wallet has maintained this amount since.
An Eye on the Future
The XRP Liquidity team now suggests that investors monitor this mysterious wallet closely. According to their analysis, if it initiates another batch of XRP transfers, it could 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 this positive movement, some investors express dissatisfaction with XRP’s relatively slow growth in the current bullish market.
Credit: Source link