XRP, the native cryptocurrency of the Ripple network, has been in the news lately for various reasons. Despite a stagnant price over the past few weeks, XRP prices registered green indexes on Tuesday, as the global digital asset market recovered slightly. In addition, the latest ruling in the US SEC vs. Ripple lawsuit might pump XRP prices ahead.
Crypto Whales on the Move
According to WhaleAlert, a tracker that monitors large cryptocurrency transactions, crypto whales moved around 364 million XRP, which is approximately worth $135 million, in multiple transactions across various exchanges. The largest transaction recorded by the tracker was the movement of 144 million XRP tokens, which is approximately worth $53.5 million.
In addition, the tracker reported that a wallet named “Ripple” moved $37 million worth of 100 million XRP tokens to an unknown wallet. Data also suggests that crypto whales bought around 75.6 million XRP tokens, which is approximately worth $18 million, in multiple transactions. The largest accumulation transaction recorded by the tracker was the addition of $15.4 million worth of 41.6 XRP tokens from the Bitso crypto exchange. It also reported that 34 million XRP, which is approximately worth $12.3 million, were moved from the Binance crypto exchange.
XRP News: Over Half A Billion XRP Shifted By Whales Amid Price Drop
Despite a recent price drop, over half a billion XRP tokens were shifted by crypto whales. The recent movement of XRP tokens by whales indicates that there is still significant interest in the cryptocurrency, despite the ongoing SEC lawsuit against Ripple.
XRP Price Update
XRP prices are up by 2% in the last 24 hours, trading at an average price of $0.37 at press time. The cryptocurrency has a 24-hour trading volume of $1.12 billion, up by 18%, and is holding a market cap of around $19 billion.
Crypto Whale Dumps XRP Holdings
However, not all crypto whales are bullish on XRP. Recently, a crypto whale went down to dump its XRP holdings amid the recent price surge. The whale wallet moved $16.62 million worth of 45 million XRP to Bitstamp crypto exchange.
Conclusion
XRP prices have been stagnant over the past few weeks. However, the recent movement of XRP tokens by whales indicates that there is still significant interest in the cryptocurrency. Additionally, the latest ruling in the SEC vs. Ripple lawsuit might pump XRP prices ahead. Nonetheless, it remains to be seen how the case will unfold and whether it will have any significant impact on XRP’s value.
