Whales shift 500 million XRP; How will XRP price react to this?
XRP News: Ripple’s native cryptocurrency, XRP, has not seen much movement in the past seven days. Other major cryptos, such as Bitcoin (BTC), and Ethereum (ETH), have maintained a positive momentum. The long-running XRP lawsuit may have delayed the decision that caused a halt in the XRP price stagnation.
Major crypto whales appear to be unaffected by recent price movements or the pending outcome of XRP’s lawsuit. WhaleAlert data shows that over 540 million XRP, or approximately $216 million, have been moved within the last 24 hours. The tracker recorded the largest transaction of moving 205million XRP (approx. $81.7 million) into an unknown wallet.
However, many whales have taken advantage of the recent price drop to add more cryptocurrency to their wallets. Multiple transactions added more than 76 millions (approx. $30 million). The tracker’s largest accumulation transaction was the addition of 40 million XRP (approx. worth $16million). You can read more XRP news here
The XRP price has dropped by approximately 2% over the past 7 days, while other cryptos have experienced a surge. At press time, it trades at $0.39 an average. XRP’s 24-hour trading volume has fallen to $962 million.
Many whales were caught dumping millions upon millions of XRP. According to data, 75 million XRP (approx. worth $19.7million) were moved to crypto exchanges in multiple transactions.
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