XRP News: Ripple’s native crypto, XRP is trading under increased selling pressure and losing its gains recorded over the past week. The price of XRP is down more than 11% in the past 7 days. However, this dip allowed the crypto whales to accumulate more XRP tokens.
Also Read: Ripple Leaving US After Coinbase CEO Drops Hint?
108 million XRP on the way
According to WhaleAlert data, crypto whales have moved about 180 million XRP (about $82 million) in multiple transactions over the past 24 hours. The largest transaction recorded by the tracker involved moving 108.9 million XRP tokens (about $50 million) between unknown wallets.
XRP price is down more than 2% in the last 24 hours. This dip allowed crypto whales to accumulate 42 million XRP tokens in a single transaction. More than $19.34 million worth of XRP tokens were purchased from the Bitso crypto exchange.
However, whales were also caught dumping XRP tokens during the price drop. According to the data, 28 million XRP tokens (about $13 million) were moved by a whale wallet to the Bitstamp crypto exchange. Read more XRP news here…
Also Read: Ripple Exec Opts for EU’s Progressive Crypto Laws as XRP Case Verdict Approaches
It is important to note that XRP price is still in green indices, having gained about 7% in the last 30 days. XRP is trading at an average price of $0.454 at the time of writing. 24-hour trading volume is up 74% to $1.2 billion.
XRP price has been stagnant for the past 2 years as Ripple Labs and its executives face a legal battle launched by the US Securities and Exchange Commission (SEC). However, XRP has managed to gain about 33% year-over-year (YTD).
Also Read: SEC Loses Grip on Supreme Court Case; Will this help Ripple?
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