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Heavy Whale Hoardings Lead To A Surge In Trading Volumes For Ripple XRP

Manoj Nair



XRP Whales

It is time for the whales to make a killing in bearish times. Ripple’s native token XRP is the hot favourite for whales in the last one day. Major whale activity always leads to a spike in the values of the token and data revealks that XRP prices have spiked in the last 24 hours. 

Whale Adds $73 Million Of Ripple XRP

XRP which is more in news because of its embroilment in a lawsuit with U.S.SEC which deemed it as a ‘Security’. However, of late it is become the hot favorite of whales and as per Whale Alert whales have hoarded XRP worth $73 million in a number of transactions.  

Another data tracker has reported that a single Whale has added Ripple XRP worth $40.1 million in a single transaction. It is a gargantuan transaction to happen in the past 24 hours. One more whale added $20.7million worth the Ripple native token.

As expected, the increased whale activity has pushed the XRP values by 2% in the past one day. The trading volume of the token has surged appreciably by 30% in the past one day and stood steady at $1.02 billion. When reports last came it was changing hands at an average price of $0.34. However, the token is far from reaching its all time high of $3.84 and is presently just 10% of this value.

Whales have also been transferring XRP tokens from their wallets to crypto exchanges to the tune of $33.9 million. It is a sign that the hoarders are willing to sell their holdings once the price gets higher.

August Brings Good Tidings For Ripple XRP

As per data received from Santiments, the Ripple XRP is having a superior NVT charts as compared to the crypto tokens. The charts reveal that the values have spiked in May but the circulation tanked after the Crypto Mayhem in June.

Experts are hinting that come August and the bullish NVT divergence will be visible for the Ripple XRP. The3 chart also reveals a prolonged four months of green and it is indicative of an eventful period for XRP ahead.

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