XRP Whales Shift 70 Mln Tokens As XRP Price Nears $0.63, Rally To Continue?

XRP, the native cryptocurrency of Ripple, has been gaining significant traction lately owing to massive whale transactions. The recent whale transfers of around 70 Mln XRP have created a buzz in the crypto market as investors await the XRP price to touch the $0.63 mark. 

So, let’s take a look at the recent whale transfers before discussing the latest price changes of XRP.

XRP Whales Shifts 70 Mln Token

According to a post by Whale Alert on X, in the past 12 hours, three significant XRP transactions have been recorded. This includes a massive transfer of 24.9 million XRP tokens, which were worth $15.3 million. The move indicates a sell strategy as XRP was transferred from an unknown wallet to Bitstamp, a leading crypto exchange.

Furthermore, the above-mentioned transfer was followed by another XRP whale transaction as they moved 25.2 million XRP tokens from an unknown wallet to Bitso, a crypto trading platform. The transfer amounted to $15.54 million. In addition, the most recent transaction was of 20 million XRP coins that were shifted from an unknown wallet to Bybit, another crypto exchange. This transaction was worth over $12 million.

The aforementioned XRP whale transactions indicate that the whales have been opting for a sell strategy as they have been moving large amounts of XRP to crypto exchanges. However, the recent rally in the XRP price reflects a different picture, signaling growing market confidence towards the crypto.

Also Read: Ark Invest Sells Coinbase As Cathie Wood Talks Bitcoin, Tesla, AI With Elon Musk

XRP Price Overview

As of writing, the XRP price was up by 0.78% as it traded at 0.6212 on Friday, December 22, 2023. The XRP market cap stood at $33.6 billion, registering an increase of 1.05%. Furthermore, the 24-hour trade volume increased by 5% and was recorded at $1.40 billion.

However, despite the recent green sessions, XRP has lost 1.83% in the last seven days. In contrast, the price was up over 4% over the last 30 days, along with an 80% jump in the past 12 months.

Also Read: Elon Musk’s SEC Tussle Reaches New Heights As Supreme Court Weighs In

✓ Share:

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.