XRP News: Ripple’s native crypto, XRP price has managed to maintain momentum during the crypto winter. However, the global cryptocurrency has been on a relief rally since early 2023. However, the crypto whales have some other plans for the XRP.
Are Whales Moving XRP Price?
According to the data, the XRP price is up almost 10% in the past 7 days. This recent increase was supported by a spike in address activity over the past week.
On January 8, 2023, XRP’s daily active addresses were about 41,000. However, this number has seen impeccable growth as daily active addresses were recorded at 148.5,000 as of January 12, 2023. XRP daily active addresses increased by more than 107,000 in just 7 days. Read more XRP news here…
WhaleAlert reported that XRP crypto whales have moved about 193 million XRP (about $70 million) in multiple transactions over the past 24 hours. The largest transaction on record was that of a whale buying more than 44.2 million XRP (approximately $15.5 million) from crypto exchange Bitso. However, the whales have bought about 45.2 million XRP (about $30.7 million) from Bitso in the past 24 hours.
Meanwhile, 88 million XRP tokens (worth about $30 million) have moved across various crypto exchanges. However, $29.1 million in XRP tokens were moved to the Bitstamp.
XRP social dominance is on the rise
The report shows that XRP has seen a pattern of large increases in social dominance, which could easily lead to price increases ahead. The price of XRP is up 3% in the last 24 hours. Ripple’s native crypto is trading at an average price of $0.37 at the time of writing. 24-hour trading volume is up 17% to $1.3 billion.
The rise in the XRP price is also supported by the latest developments in the XRP vs SEC lawsuit. The long-running case is awaiting summary judgment.
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 is not writing, he is playing video games, watching a thriller or exercising outside. Reach me [email protected]
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