XRP Dump Incoming? Whales Shift 140 Million XRP

XRP News: Ripple Labs native crypto, XRP price printed green indexes on Wednesday after incurring heavy selling pressure. However, XRP is still trading under the regulatory pressure enforced by U.S. Securities and Exchange Commission (SEC). In the meantime, crypto whales have been spotted moving millions of XRP tokens over crypto exchanges.

Also Read: Why Didn’t Ripple Register XRP With US SEC? Brad Garlinghouse Replies

XRP Price Set To Dump?

As per the data, Around 140 million XRP (approx worth $60 million) have been moved by the crypto whales in multiple transactions over the last 24 hours. However, the biggest transaction recorded by the tracker has been of moving 50 million XRP tokens. A wallet address named Ripple moved $21.4 million worth of XRP to an unknown wallet.

The tracker caught whales dumping 89 million XRP tokens (approx worth $38 million) in multiple transactions over the past 24 hours. The biggest dump transaction recorded has been of moving 31 million XRP tokens (approx worth $13.1 million) to Bitstamp crypto exchange. However, 59 million XRP tokens (approx worth $25 million) have been moved to the exchange in order dump. Read More XRP News Here…

Also Read: Is XRP Lawsuit Ruling Key For Coinbase Against US SEC?

This whale movement suggests that crypto whales are seeking an XRP price surge to sell their holdings to book a profit here. XRP price is on a decline over the past 30 days, registering a decline of 15%.

XRP price is up by around 1.5% in the last 24 hours. It is trading at an average price of $0.431, at the press time. Its 24 hour trading volume is down by 20% to stand at $903 million.

Also Read: Coinbase May Not Relist XRP Due To This Reason

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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