Whales Move 200 Million XRP Tokens

Ripple’s native token, XRP has shed its price after a good gaining run over the past few weeks. However, the global digital asset market is trading under increased volatility due to increased correlation with the traditional market. The cumulative crypto market cap has dropped to stand at $887 billion.

XRP price up by 41%

However, this current price dip seems to be a good opportunity for the whales to buy. XRP prices have dropped by more than 5% in the last 7 days which is the lowest drop among the top 10 cryptos.

The biggest digital assets like Bitcoin and Ethereum prices have dropped by more than 5% and 7% in the same period of time.

According to whale Alert, the multiple whale wallets have added around 144.2 million XRP tokens in several transactions. The total worth of bought XRP tokens is calculated to be approx $66.9 million.

The biggest whale accumulation transaction of adding $35.67 million worth of XRP tokens has been registered from the cryptoCom crypto exchange.

Meanwhile, Whale alert also reported a transaction of 60 million XRP tokens being transferred from a whale wallet to the Bitstamp crypto exchange. The total worth of moved XRP tokens is calculated to be $29.22 million.

Ripple’s token most profitable

XRP is the only crypto among the top 10 digital assets which have given positive returns over the past 30 days. XRP price is up by a whopping 41% in the last 30 days. It is trading at an average price of $0.48, at the press time.

Ripple’s native coin’s 24 hour trading volume has skyrocketed by 70% to stand at $2.7 billion. This surge has been registered amid the announcement of the much awaited CPI data.

However, the XRP token is holding a market cap of $24.1 billion despite facing the long running legal trouble from the SEC. The Court in the recent filing allowed 2 third parties to file Amicus briefs in the favor of 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]

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.