Ripple’s native token, XRP registered a blistering price rally over the past month. The recent price surge was backed by the significant wins in the SEC Vs Ripple lawsuit.
However, Due to the increased selling pressure in the market XRP prices saw a slight decline. This move has allowed the crypto whales to add more XRP to their wallets.
Whales on a buying spree?
As per Whale Alert, the crypto whales have moved more than 198 million XRP tokens over the past 24 hours.
Data depicts that whales have added over 129 million XRP tokens (worth approx $59.56 million) in the last 24 hours. More than $31 million worth of XRP tokens were moved from the Binance crypto exchange in multiple transactions.
However, the largest transaction recorded by the whale tracker has been of moving 60.92 million XRP tokens. A whale wallet added $28.4 million worth of XRP from the Bitstamp crypto exchange to its wallet.
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Earlier, Coingape reported that whales went on a buying spree and added over 200 million XRP to multiple wallets. The Whale accumulation came around at the time when court dropped major rulings in the favor of Ripple.
Is positive XRP news in coming ahead?
Whales has also moved more than 67.5 million XRP tokens from the FTX crypto platform to Binance. This movement might have come under the anticipation of a further price surge.
Ripple’s XRP price has dropped by more than 3% in the last 7 days. Its price seems to be stuck around the price range of $0.45. XRP is trading at an average price of $0.4535, at the press time.
Its 24 hour trading volume has dropped by over 18% to stand at $1.15 billion. However, XRP is one of the most profitable tokens over the past 60 days. Its price has jumped by over 38% over the same period.
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