Whales Buy XRP Dip; Moves 180 Mln XRP

XRP News: Ripple’s native crypto, XRP is trading under increased selling pressure losing its gain registered over the past week. XRP price is down by more than 11% in the last 7 days. However, this dip has allowed the crypto whales to add accumulate more XRP tokens.

Also Read: Ripple Moving Out Of U.S. After Coinbase CEO Drops Hint?

108 Mln XRP On The Move

As per the data provided by WhaleAlert, crypto whales have moved around 180 million XRP (approx worth $82 million) in multiple transactions over the past 24 hours. The biggest transaction recorded by the tracker has been of moving 108.9 million XRP tokens (approx worth $50 million) among unknown wallets.

XRP price has dropped by over 2% in the last 24 hours. This dip has allowed crypto whales to accumulate 42 million XRP tokens in a single transaction. More than $19.34 million worth of XRP tokens were bought from the Bitso crypto exchange.

However, whales were also caught dumping XRP tokens amid the price drop. As per the data, 28 million XRP tokens (approx worth $13 million) were moved by a whale wallet to the Bitstamp crypto exchange. Read More XRP News Here…

Also Read: Ripple Exec Opts For EU’s Progressive Crypto Laws As XRP Case Verdict Closes In

It is important to note that XRP price is still in flagging green indexes maintaining a gain of around 7% in the last 30 days. XRP is trading at an average price of $0.454, at the press time. Its 24-hour trading volume is up by 74% to stand at $1.2 billion.

XRP price has been stagnant over the past 2 years as Ripple Labs and its executives are facing a legal tussle launched by U.S. Securities and Exchange Commission (SEC). However, XRP has managed to gain around 33% on the year to date (YTD) basis.

Also Read: SEC Losing Grip On Supreme Court Case; Will This Help Ripple?

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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