$660 Million in XRP Shifts as Price Heads for Rebound

Notably, all four transactions share a similar nature, as both the senders and destinations of each of the large XRP transfers were not identified, causing market watchers to wonder about the purpose of the multiple XRP transfers.

While the transactions happened consecutively, speculators suggest the moves could be a strategic institutional repositioning in anticipation of something big.

Is XRP headed for a rebound？

The mysterious nature of all four transfers makes it difficult to directly link the movements with XRP‘s sudden price shift. However, with the transfers coinciding with XRP’s brief price surge, speculators have suggested that the transfers could have had a positive impact on the leading altcoin.

Nonetheless, with XRPs slow price movements over the past few days, its sudden divergence toward a bullish trajectory suggests that a major price rebound may be near.

After sliding as low as $1.77 during its current trading session, the sharp increase has pushed its price higher, showing a decent price surge of 3.29% and trading at $1.88 as of writing time.

The resurgence in XRPs price also appears to have been driven by strong demand from XRP ETFs. The funds pulled in over $30 million in their latest single-day inflow.