XRP News: Ripple’s own cryptocurrency, XRP Price, and its community have been raving about the recent development in the pivotal SEC Vs Ripple lawsuit. However, crypto whales have been on an XRP accumulation wave by using the “Buy The Dip” opportunity.

Whales move 200 million XRP

According to WhaleAlert data, crypto whales have managed to move more than 200 million XRP tokens (about $72.6 million) in the past 24 hours. However, the price of XRP has increased by about 5% during this period.

Crypto Whale bought over 77 million XRP tokens in multiple transactions. About $27 million in Ripple’s native token has been bought from Bitso, a crypto exchange, in the past 24 hours. however, the largest accumulation transaction included of adding 44 million XRPs.

Meanwhile, some whales have moved their XRP holdings to crypto exchange amid the recent price surge. According to the data, Crypto whales have sent 80 million XRP tokens (around $28 million) to Bitstamp. However, a wallet tagged Ripple moved 50 million XRP (about $17.4 million) to an unknown address. Read more XRP news here…

XRP price is up more than 6% in the past 7 days. Ripple’s native crypto is trading at an average price of $0.3639 at the time of writing. However, 24-hour trading volume fell 3% to $1.1 billion.

Ripple Drops Crypto 2023 Report

Ripple Labs has dropped a 2023 crypto report “A Focus on Real-World Utility”. It mentioned that Ripple’s executive predicts that from Non-Fungible Tokens (NFTs) to Central Bank Digital Currencies (CBDCs) their application will be for real-world utility.

It added that they expect a general shift in the market. This will be a shift from highly speculative companies to those looking for digital asset solutions to solve real problems.

In 2022, crypto companies such as FTX, Celsius, Voyager, and Three Arrows Capital collapsed horribly. This has led to declining valuations and distressed assets that will provide more opportunities for acquisition.

Ashish believes in decentralization and has a keen interest in the development of 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’s playing video games, watching a thriller, or exercising outside. Reach me [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 publication is not responsible for your personal financial loss.

This post Are Crypto Whales Riding XRP Price Rise?

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