Are Whales Dumping XRP? Here’s What Data Suggests

XRP News: Amid the increased uncertainty building around the SEC Vs Ripple lawsuit ruling, XRP seems to be losing its momentum. However, crypto whales are still trying to keep spirits high amid the recent price dump.

Whale moves 300 million XRP

As per the data provided by WhaleAlert, crypto whale went on to move around 300 million XRP (approx worth $122 million). The single biggest transaction recorded by the tracker has been of moving 160 million XRP (worth approx $66 million) to an unknown wallet.

XRP price has dropped by around 2% in the last 24 hours while it has declined by more than 14% in the last 90 days. XRP is trading at an average price of $0.407, at the press time.

Data depicts that whales have dumped around 100 million XRP (approx worth $32 million) in multiple transactions over the last 24 hours. The biggest dumping transaction recorded has been of moving $15 million worth of 36 million XRP to the Bitstamp crypto exchange. However, whales dumped around 69 million XRP (approx worth $28 million) on the same exchange. Read More XRP News Here….

Whales buy the dip

A whale took complete benefit of the recent price dip by accumulating around 40 million XRP (approx worth $16.2 million) in a single transaction.

Meanwhile, XRP 24 hour trading volume has dropped by 20% to stand at $837 million. XRP is still holding a market cap of over $20 billion despite facing a lawsuit from the US SEC.

Read Here: Why XRP Price Might Surge Ahead?

However, WhaleStats reported that XRP has landed on the tally of the top 10 tokens by trading volume among the 500 biggest BSC whales over the last 24 hours. As we dig in, XRP also made it to the list of the top 10 tokens purchased by the biggest 100 whales. As per the data, the top 100 whales are now holding more than $26 million worth of XRP.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

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.