XRP, the native token of Ripple, has once again become the hot favorite of the whales. In the past 24 hours, XRP Whales have been detected transferring millions of XRP tokens. However, the latest whale action and other factors hint at numerous scenarios from here for the XRP token.
XRP Whales On An Overdrive, Send 240 Million Tokens To Exchanges
Prominent tracker Whale Alert has revealed that the biggest wallets belonging to the XRP Whales have transferred 240 million XRP tokens worth $80 million in the past day. More than 672 million XRP tokens have been moved over the past day.
The breakdown of the transfer is as follows-
- One hundred ten million XRP tokens (worth $36.55 million) were sent to the Bitstamp crypto exchange.
- An anonymous wallet sent $43.16 million worth of 130 million XRP tokens to the Bitso exchange.
- Three hundred million XRP tokens were also relocated from unknown wallets to different sources.
These tokens are valued at just under $100 million, and this transfer of tickets from wallets to crypto exchange indicates that XRP whales might sell them to book the profits. Hoarding by the whales has led to the addition of 132.9 million XRP tokens (worth $44.2 million) in several transactions, and the largest is $22.26 million, bought from the Bitso crypto exchange.
After a steep fall yesterday, the global crypto market has recovered to some extent today, and XRP prices have also surged by 3% in one day. XRP was changing hands at $0.33, down by 91% from its all-time high of $3.84.