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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?

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