44.1 million XRP tokens, valued at over $97 million, were transferred from Turkish exchange Paribu to an unknown wallet in a significant movement.
The transfer was viewed as a sign of long-term holding by a major investor, potentially reducing selling pressure on the market.
Speculation arose regarding the possibility of a 'giga pump' for XRP, with market analysts forecasting a major price shift following a breakout pattern.
XRP was trading at $2.19 at the time of writing, with analysts projecting potential price targets above $27.16 and $71.41 if the bullish momentum is sustained.