Crypto Whales Move Around $366 Million Worth of XRP Tokens

  • The biggest single transaction recorded by the tally, 500M XRP tokens were exchanged.
  • A “whale” sent around 40 million XRP to the Bitstamp cryptocurrency exchange.

In the last several weeks, the price of XRP, Ripple’s native cryptocurrency, has been under extreme market pressure. On Tuesday, however, XRP’s value unexpectedly rose by 5% as rumors of a settlement in the Ripple case began to circulate. Furthermore, the information shows that crypto whales have traded a significant volume of XRP tokens in the recent day.

According to WhaleAlert’s statistics, in the last 24 hours, cryptocurrency “whales” have traded over a billion XRP tokens. Multiple transactions totaling over $366 million were made with XRP tokens.

Moreover, in the biggest single transaction recorded by the tally, 500M XRP tokens were exchanged, with an approximate value of $175.2 million. However, there was a $106 million XRP transfer from an anonymous wallet to a wallet with the name “Ripple,” according to the data.

Rapid Price Surge

A “whale” sent around 40 million XRP to the Bitstamp cryptocurrency exchange when the price of XRP was on the rise. At that time, this had a value of around $14.1 million.

The value of XRP has increased by almost 5% in the last day. At the time of writing, XRP, Ripple’s native coin, was trading at an average price of $0.34, down from 24 hours high of $0.35.  Moreover, its 24-hour trading volume is about $900 million. Despite being sued by the US SEC, XRP has maintained a market valuation of approximately $17.26 billion.

However, in various transactions, “whales” reportedly escrow-locked over 700 million XRP. There is around $246.2 million worth of locked Ripple native tokens.

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