An XRP liquidity tracking resource recently identified a smart wallet that it believes could help signal when XRP has reached its next all-time high price.
The liquidity tracking resource, identified as XRP Liquidity on X, disclosed this in a recent post. The team behind the resource called attention to a smart money wallet associated with an address with the tag Musk.
They revealed that the individual behind the wallet is fascinated with popular figures associated with astronomy. In addition, this fascination extends to individuals who have made notable contributions to the field of science and technology.
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
— XRP_LIQUIDITY (@XRPwallets) February 17, 2024
Notably, the whale has wallets with tags such as Isaac Newton, Andreessen, Turing, Sagan, Faraday, and others. These addresses have been around for a long time, having all been activated in 2013 and 2014, shortly after XRP started trading.
The whale first activated the Sagan wallet in June 2013 before activating Isaac Newton and Musk in November 2013. These addresses activated all the other wallets, including a newer untagged wallet, which the team behind XRP Liquidity has spotlighted.
This untagged wallet (rpdfM4K), activated by the Isaac Newton address in August 2017, has received all the XRP in the other wallets. Interestingly, all the other addresses transferred their holdings to this wallet on Aug. 26, 2017, bringing its balance to 20 million XRP at the time.
A Potential Indicator of the Next XRP All-Time High (ATH)
The address has held onto most of these XRP tokens for over six years. However, the XRP Liquidity team identified that this wallet transferred a total of 2.99 million XRP to Bitstamp in December 2017, a few days before XRP clinched its all-time high of $3.31.
Recall that XRP was already witnessing massive bullish momentum as of December 2017, riding on the uptrend that began on Dec. 11, 2017. The address in question moved the 2.99 million XRP to Bitstamp on Dec. 14, 2017, across three equal transactions.
… By only a few days sending 300k XRP to Bitstamp. And has not moved since.https://t.co/NWJlhDRhT8 pic.twitter.com/KQEiUXRqmJ
— XRP_LIQUIDITY (@XRPwallets) February 17, 2024
XRP sustained its bullish momentum and skyrocketed to $3.31 ATH merely 21 days after the wallet executed these transactions. Following the transfer, its balance dropped slightly to 17 million XRP. The address has continued to HODL these 17 million XRP to this day.
In a subsequent post, the XRP Liquidity team advised investors to keep a watchful eye on the XRP wallet. They emphasized that if the address executes another batch of XRP transfers, it could be an indication that XRP is on its way to hitting another all-time high.
If this wallet sends to an exchange again could be an indication of another XRP ATH. Might be good to keep an eye on it. https://t.co/sCbDXkJ1vX
— XRP_LIQUIDITY (@XRPwallets) February 18, 2024
Nonetheless, this smart money is not guaranteed to be a reliable indicator of the next ATH. As such, investors should not take this as financial advice.
XRP currently changes hands at $0.5612, up 1.14% over the past 24 hours. Despite its upward momentum, investors have bemoaned XRP’s slow growth compared to other assets.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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