XRP Price: Another Whale Dumps 46 Mln XRP, Price To Tumble Below $0.60 Support Again

Coingapestaff
November 30, 2023
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XRP Whale Offloads 26 Mln Tokens, Price Decline To Continue?

The XRP cryptocurrency once again caught the eyes of crypto market enthusiasts as the token noted a substantial increase in whale activity as of today, November 30.

As per on-chain data, a whale was noted transferring over 46 million XRP to centralized exchanges in a series of transactions. The increase in whale activity comes amid the price plunge witnessed by the XRP token.

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Whale Transactions: Report

Whale Alert, a platform offering blockchain-tracking insights, recently unveiled the data showcasing the whale transfers. As per the data, two whale transactions attracted massive attention within the broader crypto market.

The first transaction was done by an unknown wallet, 4wf7enWPx…5XgwHh4Rzn, transferring 25.10 million XRP to a centralized exchange, Bitstamp. The amount of tokens transferred to Bitstamp totaled a whopping $15.29 million.

Additionally, the second transaction that caught the eyes of investors and traders within the industry transferred 18.50 million XRP to another exchange, Bitso. Reportedly, the same unknown wallet mentioned above was noted transferring XRP to Bitso, a Mexico City-headquartered digital asset exchange.

Following the dumping of XRP to exchanges, the token’s price also noted a slight fall. The price plunge witnessed by XRP appears to fall in line with the recent dumping of XRP to CEXs.

Also read: Linda Yaccarino Candidly Defends Elon Musk & X’s Free Speech Stand As Advertisers Flee

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XRP Price Plunges

At the time of writing, the XRP price witnessed a marginal fall of 0.51% in the past 24 hours, evaluating $0.6053. Furthermore, the token also noted a slight decrease of 1.06% over the past week, along with a 4.28% monthly downswing.

Moreover, one of the leading crypto analysts within the industry, Dark Defender, stated that the community expected the XRP to complete Wave 1, hitting the $0.66 mark on November 24. Subsequently, Wave 1 reached the $0.64 mark on November 26. Furthermore, the Ripple community expected a retrace after Wave 1 and got retraced to $0.6, as per the recent remarks made by the crypto analyst.

Based on the actual structure, $0.64, $XRP is expected to target the $0.75 mark, along with the $0.83 mark in the short run.

Also read: Brazil To Soon Introduce Tax on Crypto Profits, Will This Impact Adoption?

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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.