XRP News: After reaching a high of $0.41 over the weekend, the price of Ripple’s native token fell briefly on Monday. One of the reasons could be that the recent Whale activity in the token has increased this year. Recently, Whale Alert reported that several addresses have moved 508,500,000 XRP tokens worth more than $200 million.

XRP Price Drop: Whales Moved Millions

According to data from WhaleAlert, crypto whales have moved XRP tokens to unknown private addresses and Bitstamp in the past 24 hours. The first whale moved 32,043,479 XRP (worth $13,002,714) from Binance to an unknown wallet address.

The second transfer was 205,500,000 XRP (worth $81,762,093) from an unknown wallet address to another unknown wallet address. The second and third whales moved 81,000,000 XRP (worth $32.1 million).

Finally, the fifth whale transferred 189,000,000 XRP (worth 75,552,320) from an unknown wallet to an unknown wallet.

In total, the whales moved 508.5 million XRP worth more than $200 million in the first week of February 2023. Read more XRP news here….

At the time of writing, Ripple (XRP) is trading at USD 0.3975. XRP price is down about 3.25% in the last 24 hours, which is down 20% in the last 3 months. On November 5, 2022, the price of Ripple (XRP) was $0.50 and about 87% below its all-time high of $3.40.

Source – CoinMarketCap

This cryptocurrency has not yet shown significant strength as it continues its struggle in recent weeks. If the token manages to break the $0.43 price level, a rally to the $0.55 area can be expected in the near term.

Also Read: XRP A Complete Scam? Ripple CTO Answers

Disclaimer: The information in this article is solely the opinion of the author and not investment advice

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