Ripple’s native token, XRP, has slashed its price after making good gains in recent weeks. However, the global digital asset market is trading under increased volatility due to an increased correlation with the traditional market. The cumulative crypto market cap has fallen to $887 billion.
XRP price rises by 41%
However, this current price dip looks like a good opportunity for the whales to buy. XRP prices are down more than 5% in the past 7 days, which is the lowest drop in the top 10 cryptos.
The largest digital assets such as Bitcoin and Ethereum have fallen by more than 5% and 7% over the same period.
According to whale Alert, the multiple whale wallets added approximately 144.2 million XRP tokens in multiple transactions. The total value of purchased XRP tokens is calculated to be approximately $66.9 million.
The largest whale accumulation transaction of adding $35.67 million in XRP tokens has been registered with the cryptoCom crypto exchange.
Meanwhile, Whale Alert also reported a transaction of 60 million XRP tokens being transferred from a whale wallet to the Bitstamp crypto exchange. The total value of moved XRP tokens is calculated to be $29.22 million.
Ripple’s Token Most Profitable
XRP is the only cryptocurrency in the top 10 digital assets that has delivered positive returns in the past 30 days. The XRP price is up a whopping 41% in the last 30 days. It is trading at an average price of $0.48 at press time.
The 24-hour trading volume of Ripple’s native coin has skyrocketed 70% to $2.7 billion. This increase was registered during the announcement of the highly anticipated CPI data.
However, the XRP token has a market cap of $24.1 billion, despite the SEC’s protracted legal troubles. The court allowed 2 third parties to file Amicus statements in favor of Ripple in the recent filing.
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 Whales Move 200 Million XRP Tokens
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