The global crypto market printed green indices on Friday, even after higher-than-expected inflation. However, Ripple’s native token XRP has maintained its positive streak among the top cryptos. It seems that with the optimistic updates from the Ripple lawsuit, the whales are also helping the XRP price to pump hard.
XRP price on a dream punch
The XRP price is up nearly 12% in the last 24 hours and has taken its bullish line to a new high. Previously, Coingape reported that the XPR token has been disconnected from the other cryptocurrencies.
However, a massive accumulation of whales has also been reported in the past 24 hours. According to whale warning, the largest crypto wallets have added about 120.2 million XRP tokens in multiple transactions. The whales have purchased approximately $60 million worth of XRP tokens.
The largest transaction registered belonged to a whale who bought $31.2 million worth of XRP tokens from the Bitso crypto exchange.
Meanwhile, huge transactions of moving to 200 million XRP tokens (worth about $99.72 million) are also reported by the whale tracker. Another suspicious transaction of moving 50 million XRP tokens (worth $24.3 million) from Ripple to an unknown wallet made it to the list.
However, the whales have also moved many XRP tokens from their wallets to multiple crypto exchanges. More than 120 million tokens have been moved to exchanges. Most of the token dumping has been done on the Bitstamp crypto exchange.
Ruling of Ripple case that helps golf?
The XRP token’s price growth has been hampered by the US SEC’s long-running lawsuit. However, the recent ruling has shifted momentum in favor of the Ripple and the defendants.
The XRP price is up more than 50% in the last 30 days. XRP is trading at an average price of $0.501 at press time. The 24-hour trading volume has increased marginally to $2.32 billion.
Ashish believes in decentralization and has a keen interest in evolving Blockchain technology, the cryptocurrency ecosystem and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he’s not writing, he plays video games, watches a thriller, or works out outside. Reach me at [email protected]
The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or the publication is not responsible for your personal financial loss.
This post Are Crypto Whales Riding High XRP Price?
was published first on https://coingape.com/xrp-price-update-are-crypto-whales-riding-high-xrp-price/