While Ripple is hoping for a victory in its ongoing case against the US Securities and Exchange Commission (SEC), its native currency XRP is finding its recovery phase. The altcoin is just a few cents below $0.40.
However, while XRP has seen remarkable performance, the coin’s massive rise hinges on its victory in the Ripple vs SEC case. Since June 14, the XRP price has been trading inside its symmetrical triangle.
At press time, XRP is selling for $0.39 up 1.72% over the past 24 hours.
Crypto Whale Transfers Huge XRP Tokens
Meanwhile, crypto whales have been transferring millions of XRP tokens in the midst of the recovery phase. Data from WhaleAlert claims that Crypto whales have moved past 350 million XRP tokens in the last 24 hours. Among these, an unknown wallet received 261 million XRP worth almost $102.4 million and this is done in a single transaction.
Furthermore, on the last day, the whales also bought 65.8 million XRP, which is equivalent to almost $26 million in multiple transactions. Among these accumulations, a single transaction has recorded a purchase of $13.6 million of XRP. On the contrary, some whale addresses have reportedly dumped around 62 million XRP from unknown wallets to different crypto exchanges.
On the other hand, another report has mentioned that XRP is now one of the highest value token locks. This report comes from an escrow account, which is a legal financial arrangement where an asset or liability is held by a third party.
This post Crypto Whales Transfers 356 Million XRP Tokens, XRP Price Nears $0.40
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