Shift

Rally

Elon Musk

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.&nbsp;
So, let’s take a look at the recent whale transfers before discussing the latest price changes of XRP.
<h2 id="b-xrp-whales-shifts-70-mln-token-b">XRP Whales Shifts 70 Mln Token</h2>
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 <a href="https://coingape.com/glossary/Crypto-exchange-2/" target="_blank" rel="noopener noreferrer nofollow">crypto exchange</a>.
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.
Also Read: <a href="https://coingape.com/ark-invest-sells-coinbase-as-cathie-wood-talks-bitcoin-tesla-ai-with-elon-musk/" target="_blank" rel="noopener noreferrer nofollow">Ark Invest Sells Coinbase As Cathie Wood Talks Bitcoin, Tesla, AI With Elon Musk</a>
<h2 id="b-xrp-price-overview-b">XRP Price Overview</h2>
As of writing, the <a href="https://coingape.com/price/xrp/" target="_blank" rel="noopener noreferrer nofollow">XRP price</a> 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.
Also Read: <a href="https://coingape.com/elon-musk-sec-tussle-reaches-new-heights-as-supreme-court-weighs-in/" target="_blank" rel="noopener noreferrer nofollow">Elon Musk’s SEC Tussle Reaches New Heights As Supreme Court Weighs In</a>
The post <a href="https://coingape.com/xrp-whales-shift-70-mln-tokens-xrp-price-nears-0-63-rally-to-continue/" rel="noopener noreferrer nofollow">XRP Whales Shift 70 Mln Tokens As XRP Price Nears $0.63, Rally To Continue?</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

XRP Whales Shift 70 Mln Tokens As XRP Price Nears $0.63, Rally To Continue?

Table of Contents

Coingape News Media

Other articles published on Dec 22, 2023

Solana experiences a significant surge as Bitcoin slides

Coinbase Gathered Authorities Approvals on VASP License

Terra Luna Classic Community Faces Critical Decisions: Burning Proposals on the Horizon

CTBC Flying Oyster’s Ambitious Roster Reshuffling Rocks the PCS Esports Scene

Famous ETF Analyst Reveals the Approval Date for Spot Bitcoin ETFs!

Avalanche (AVAX) Climbs to 9th Place; InQubeta (QUBE) Set to Join Top 100 by 2025

Join our free newsletter for daily crypto updates!