6 months ago 1 min read

XRP Price: Have Whales Been Riding High?


Crypto market has shown the green pasture on Friday despite the high inflation rate reports from the CPI. Regardless of this, XRP has continued its green streak amongst the top cryptocurrencies. Speculations point out that whales have been behind the hard pumps due to the positive updates from the Ripple lawsuit.

Dream Surge for the XRP Price

XRP has gained almost 12% in the last 24 hours bringing its gaining streak to a new high. However, per whale alert, a huge whale accumulation has also been reported over the past 24 hours. The biggest crypto wallets have stuffed an estimate of 120.2 million XRP tokens in multiple transactions and have bought around $60 million worth of tokens.

The biggest transaction has been from a wallet purchasing $31.2 million worth of XRP tokens from Bitso.

In the meantime, huge transactions of an estimated amount of $99.72 million worth of XRP tokens have also been reported moved from the whale tracker. Another suspicious transaction of moving 50 million XRP tokens (worth $24.3 million) from Ripple to an unknown wallet has made it to the list.

But the whales have also moved more than 120 million of XRP tokens from their wallets to multiple crypto exchanges with majority of the dumps recorded on Bitstamp.

Ripple Case Aiding in the Surge?

The price growth of XRP has been set aback by the long running lawsuit charge by the US SEC. But with the recent ruling, it has shifted the momentum in the favor of the Ripple and defendants.

XRP price are running high by over 50% over the past 30 days. XRP is trading at an average price of $0.501, and has a 24-hour trading volume marginally up to stand at $2.32 billion.

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