XRP, the native cryptocurrency of Ripple, has been gaining significant traction lately owing to massive whale transactions. The recent whale transfers of around 70 Mln XRP have created a buzz in the crypto market as investors await the XRP price to touch the $0.63 mark.
So, let’s take a look at the recent whale transfers before discussing the latest price changes of XRP.
XRP Whales Shifts 70 Mln Token
According to a post by Whale Alert on X, in the past 12 hours, three significant XRP transactions have been recorded. This includes a massive transfer of 24.9 million XRP tokens, which were worth $15.3 million. The move indicates a sell strategy as XRP was transferred from an unknown wallet to Bitstamp, a leading crypto exchange.
Furthermore, the above-mentioned transfer was followed by another XRP whale transaction as they moved 25.2 million XRP tokens from an unknown wallet to Bitso, a crypto trading platform. The transfer amounted to $15.54 million. In addition, the most recent transaction was of 20 million XRP coins that were shifted from an unknown wallet to Bybit, another crypto exchange. This transaction was worth over $12 million.
The aforementioned XRP whale transactions indicate that the whales have been opting for a sell strategy as they have been moving large amounts of XRP to crypto exchanges. However, the recent rally in the XRP price reflects a different picture, signaling growing market confidence towards the crypto.
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XRP Price Overview
As of writing, the XRP price was up by 0.78% as it traded at 0.6212 on Friday, December 22, 2023. The XRP market cap stood at $33.6 billion, registering an increase of 1.05%. Furthermore, the 24-hour trade volume increased by 5% and was recorded at $1.40 billion.
However, despite the recent green sessions, XRP has lost 1.83% in the last seven days. In contrast, the price was up over 4% over the last 30 days, along with an 80% jump in the past 12 months.
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