A stunning movement of XRP has just been recorded, with 44.1 million tokens, worth over $97 million at current market price, transferred from Turkish crypto exchange Paribu to an unknown wallet. The sudden move, initially flagged by an XRP investor known as Xaif on social media platform X, comes amid a projected wave of a giga pump forecasted by technical analysts conflicted by waning bullish sentiment surrounding the cryptocurrency. 44 Million XRP Leaves Paribu For Unknown Wallet On May 31, 2025, at precisely 09:51 AM UTC, a transaction involving 44,100,000 XRP was executed on the XRP Ledger. The source was identified as Paribu, one of Turkey’s most prominent cryptocurrency exchanges. This makes the source even more interesting, considering it isn’t one of the more popular Western-based crypto exchanges. Nonetheless, the tokens were moved to wallet address “rKeWg9,” which is not previously associated with any major exchange or custodian. Blockchain data confirms that the entire amount was delivered successfully, with a transaction fee of just 0.00001 XRP. As noted by the XRP analyst, this is most likely a message from a giant investor, pointing to an accumulation move. This is is because a significant movement of crypto tokens off an exchange platform is mostly viewed as a sign of long-term holding that reduces selling pressure. When high-volume transfers like this are made, they are mostly purchases by institutions or high-net-worth individuals positioning themselves ahead of a bigger price shift. In a market where sentiment can change quickly, such moves carry psychological weight. As expected, it has caused some optimism among smaller holders, and the next outlook is whether it can attract more buyers expecting a rally. Giga Pump Incoming For XRP? Adding to the building fire is a bold proclamation from market analyst Amonyx, who recently took to X to share an ultra-bullish outlook for XRP. Particularly, the analyst noted that XRP is on the way to printing a “giga pump” into the foreseeable long term. The chart he shared shows a long-term symmetrical triangle breakout pattern, indicating that XRP has finally broken past a multi-year consolidation phase on the monthly candlestick timeframe, which dates back to 2018. The resemblance of this breakout to Bitcoin’s similar breakout in 2016 is unmistakable. Considering the subsequent Bitcoin price action at the time, the analyst projected a similar move for the XRP price. Amonyx’s chart outlines an upside Fibonacci extension target above $27.16, with a more extreme resistance band around $71.41, implying a high-momentum move on the macro level. Both of these levels correspond to the 1.618 and 1.902 Fib extension levels, respectively. The trajectory, if sustained, would see XRP competing with Ethereum and possibly even Bitcoin in terms of market capitalization. Image From X: Amonyx At the time of writing, XRP was trading at $2.19, up by 1.33% in the past 24 hours. Featured image from Unsplash, chart from TradingView
