The global crypto market cap is barely maintaining its position above the $1 Trillion mark as the pioneering cryptocurrency, Bitcoin, tumbles down its major support level. While the overall crypto market faces the bear effect, the sixth largest cryptocurrency, XRP price is trying its best to hold on to its upper trend. Hence, even when most of the cryptocurrencies are facing major fall, XRP has barely lost 3%.
On the other hand, as per WhaleAlert in the past 24hrs, the Crypto whales have dumped more than 161 million tokens in multiple transactions. This 161 million accounts to nearly $62 million worth of tokens. Among these the whales have sold nearly 100 million XRP coins costing around $37 million in just 24 hrs. The data further claims that over 69 million XRP worth of $28 million were transferred to Bitstamp exchange, while 27 million XRP got sold on Bitso exchange.
Crypto Whales Dump XRP Tokens
Meanwhile, as per the reports in the last 24hrs XRP’s trading volume has recorded an increase of 45% which is now positioned at $1.41 billion. Additionally, the data also flashes a positive side of Crypto whales where the whales have added more than 65 million XRP tokens which is worth $15.3 million. Among these the largest one was accumulated through Bitso accounting to $15.3 million.
However, Ripple CEO Brad Garlinghouse believes Ripple and the overall crypto market has a brighter future ahead while he points towards major developments. Looking at the brighter side, we can still expect bulls to return soon.
Source: https://coinpedia.org/news/crypto-whales-dump-nearly-100-xrp-tokens-whats-next-for-xrp-price/