Half a Billion XRP Moved During Price Drop; What’s the Deal?
XRP News: The price of Ripple’s native token fell on Monday after reaching a high of $0.41 last weekend. One reason could be the increase in Whale activity this year. Whale Alert recently reported that several addresses had moved 508,500,000 tokens of XRP worth more than $200,000,000.
WhaleAlert data shows that crypto whales have moved XRP tokens from Binance to unknown private addresses and Bitstamp over the past 24 hours. The first whale moved 32.043,479 XRP ($13,002,714) from Binance and to an unknown wallet address.
The second transfer was 205,000,000 XRP (worth $81,762,093), from an unknown wallet to another unknown address. The third and second whales moved 81,000,000XRP (worth $32.1 Million).
Finally, the fifth whale transferred 189,000,000XRP (worth 75 552,320) from an unidentified wallet to an unidentified wallet.
The whales moved 58.5 million XRP, worth more than $200,000,000, during the first week in February 2023. More XRP News
At the time this article was written, Ripple (XRP), is trading at $0.3975. The XRP price has fallen by approximately 3.25% over the past 24 hours. This is a drop of 20% in the past 3 months. The Ripple (XRP), price was $0.50 on 5 November 2022. This is 87% lower than its record high of $3.40.
Source – CoinMarketCap
This cryptocurrency has not shown any significant strength in recent weeks as it struggles to stay afloat. A rally towards the $0.55 area could be possible if the token breaks the $0.43 price level.
Also read: Is XRP a complete scam? Ripple CTO Replies
Disclaimer: This article does not contain investment advice.
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