Whales Add 60 XRP Million; Price Jumps By 6%

XRP, Ripple’s native token has emerged out to be the highest gainer among the top crypto. However, XRP token is riding high over the past 30 days. This positive news coming out of the long running US SEC vs Ripple lawsuit. XRP price has jumped by more than 55% in the last 30 days.

Whale accumulation pumping XRP prices?

The whale’s increased interest is among the key factors responsible for the XRP price surge. As per whale Alert, whales have accumulated around 60 million XRP tokens in the last 24 hours. The cumulative worth of these transactions has been calculated at around $31.13 million.

As per the data, the single biggest accumulation transaction reported has been 35 million XRP tokens. Whale added XRP tokens worth around $18.09 million from the Bittrex crypto exchange.

WhaleStats reported that Ripple’s XRP token has landed on the list of most used smart contracts among the top 100 BSC whales. XPP price today has jumped by around 6%. It is trading at an average price of $0.51, at the press time.

However, XRP’s 24 hour trading volume has jumped by around 77% to stand at $2.9 billion. Despite facing legal trouble from the US SEC XRP has managed to stay in the top 10 biggest crypto with a market cap of $25.79 billion.

Ripple token decouples from crypto market

Earlier, Coingape reported that the XRP has decoupled from the rest of the crypto market. The global digital asset market is trading under increased selling pressure over upcoming U.S. unemployment. Meanwhile, XRP price today printed green indexes.

Santiment reported that XRP network growth on October 7, 2022, was the highest in the last 3 months. More than 2.7K new XRP addresses were created on Friday.

Coingape reported that Ripple and the defendant filed their opposition to the SEC’s request. The commission asked the court to reject the I-Remit and TapJets motions to file an amicus brief in the XRP case.

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]

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