Waves

<img width="1199" height="799" src="https://coingape.com/wp-content/uploads/2024/01/xrp_cover-e1705389221576.png" alt="XRP News: Whale Makes Waves With $15 Mln Bitstamp Dump Amid Price Dip" style="float:right; margin:0 0 10px 10px;">
After a strong bullish run, XRP’s gains have come to a standstill due to a bearish turn. Moreover, major whale activity has been noted amid the price dip. Lately, an XRP whale offloaded nearly $15 million worth of XRP tokens to crypto exchange Bitstamp, which could be detrimental, considering the recent nosedive.
<h2 id="xrp-whale-activity-25-mln-tokens-offloaded">XRP Whale Activity: 25 Mln Tokens Offloaded</h2>
According to <a rel="noopener noreferrer nofollow" href="https://whale-alert.io/transaction/ripple/77796F1161FBEE854C975FFB26D972FC9A200BF72067A5E406BC282362D74BDC" target="_blank">Whale Alert</a>, an on-chain data tracking forum, over 25 million XRP tokens were transferred to Bitstamp. The transaction registered a shift of 25.5 million XRP worth $14.75 million to Bitstamp via an undisclosed wallet. It indicates a massive selloff, which could push the XRP price further into the red.
This comes after another significant XRP dump on <a href="https://coingape.com/xrp-whale-shifts-28-mln-xrp-to-bitstamp-price-to-hit-0-64/" target="_blank" rel="noopener noreferrer nofollow">Bitstamp</a>. Earlier, 26.2 million XRP tokens worth $15.16 million were offloaded by an unidentified wallet to the Luxembourg-based crypto exchange. Moreover, a humongous Bitfinex whale transaction had sent shockwaves through the XRP community.
As reported by Coingape earlier, apparently 25.6 billion XRP (worth $14.85 billion) was transferred to Bitfinex, another leading crypto exchange, on Monday. The transfer marked nearly 50% of the crypto’s total supply, which took the XRP community by storm.
Bitfinex CTO, Paolo Ardoino, weighed in on the matter and labeled it as a ‘Partial Payments Attack’, however, that wasn’t the case. Whale Alert then clarified that it was an erroneous report. They took to X and stated that there was a mistake in reading the Ripple node response.
Also Read: <a href="https://coingape.com/xrp-whale-dumps-26-mln-tokens-amid-15-bln-bitfinex-saga/" target="_blank" rel="noopener noreferrer nofollow">XRP News: XRP Whale Dumps 26 Mln Tokens Amid $15 Bln Bitfinex Saga</a>
<h2 id="xrp-price-today">XRP Price Today</h2>
Last week, XRP rallied toward and leaped past the $0.60 mark, however, the bullish run was short-lived. The XRP price fell below $0.58 in today’s trading session. At press time, the XRP price was down by 1.01% as it traded at $0.5743 on Tuesday, January 16.
Moreover, the crypto’s value dipped below $0.57 before rebounding back. The crypto currently holds a market cap of $31.16 billion, indicating a 1.07% decline. Whilst, the 24-hour trade volume dropped by 3.65% to $948.30 million.
The XRP price attained a high of $0.6223 on January 11, marking a significant move for the crypto. However, the recent bearish downturn washed off these gains as the 1-week returns now stand at 0.49%. Furthermore, the 1-month losses amount to nearly 7%, which has taken the XRP community aback.
Also Read: <a href="https://coingape.com/bitfinex-exchange-thwarts-15-billion-worth-attack-on-xrp-tokens-on-platform/" target="_blank" rel="noopener noreferrer nofollow">Bitfinex Thwarts $15 Billion Worth Attack on XRP Tokens on Platform</a>
The post <a href="https://coingape.com/xrp-whale-makes-waves-with-15-mln-bitstamp-dump-price-sinks-below-0-58/" rel="noopener noreferrer nofollow">XRP News: Whale Makes Waves With 25 Mln XRP Dump, Price Sinks Below $0.58</a> appeared first on <a href="https://coingape.com" rel="noopener noreferrer nofollow">CoinGape</a>.

XRP News: Whale Makes Waves With 25 Mln XRP Dump, Price Sinks Below $0.58

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