Whale Moves 24 Mln XRP As Price Nosedives Below $0.62, What’s Next?
A whale transferred 24 million XRP tokens recently as reported by crypto transfer alert platform Whale Alert. The staggering amount of tokens transferred was worth $14.88 million. The movement was recorded between an unknown wallet and prominent crypto exchange Bitstamp.
The XRP gas fees are comparatively low, so the whale paid a mere 0.000015 XRP to execute the trade.
XRP Whale Accumulation Driving Price Action
In the last 24 hours, this is the second whale occurrence. Before this, on December 4, an equivalent sum of tokens (24.2 million XRP) was again transferred to the crypto exchange, Bitstamp.
This led to speculations among XRP holders about whether the whales were manipulating the XRP surge or dump. The crypto bull market and a lot of optimism triggered the recent rally which took XRP above $0.60.
However, the rally didn’t last long due to several reasons. One of the main reasons are lack of Institutional interest. Most of the investors turned their faces towards Bitcoin and Ethereum. Due to this, the outflow and liquidation increase resulted in a price slump.
The good thing is that the number of holders keeps increasing. According to Santiment, the total number of XRP holders is above 4.88 million which shows that investors are showing interest in XRP.
Also Read: Just-In: Binance Launches Zero-Fee Trading For XRP, ETH, SOL, DOGE, LINK, BNB
XRP Price Slumps 2%
XRP found it hard to remain in the same green zone and slumped on Tuesday after gaining 3% on the last day.
XRP, long a community favorite, now targets institutions, seen as pivotal for the upcoming bull run. According to recent data shared by Coinshares, XRP falls behind as Solana dominates with significant institutional inflows.
Weekly data reveals that XRP attracted $0.5 million in ETP inflows by December 1. In contrast, Solana saw a substantial $4.3 million, exposing a noticeable gap in yearly flows. The divergence of institutional investors from XRP to other altcoins is one of the major reasons why XRP is struggling to maintain the $0.60 resistance.
At the press time, XRP price was trading at $0.620908, indicating a 1.93% decrease in the last 24 hours and a 2.99% increase in the last seven days. With a slight drop in trading volume, the 24-hour trading volume of XRP was at $16 billion.
Also Read: Crypto Tax Frauds on IRS Radar Amid Market Boom
- US Shutdown Beyond 40 Days To Delay Crypto ETF Approval, But Demand Spikes
- OpenSea Set to Reward Investors With Massive SEA Token Airdrop Ahead of Q1 2026 Launch
- Cardano’s Charles Hoskinson Addresses Allegations of Diverting Treasury Funds
- BlackRock Dumps Bitcoin and Adds Ethereum Amid Crypto Market Crash
- Huobi Founder to Launch $1B Ethereum Treasury Firm, Boosting ETH Demand
- HYPE Price Teeters Amid Weak Technicals and Soaring Liquidations
- XRP Price Prediction As Ripple Announces $1B Treasury Plans – Is a Rebound Imminent?
- Bitcoin Price Prediction Amid Gold’s Parabolic Rally to Second-Largest Reserve Asset
- 3 Altcoins Defying the Market Momentum In October 2025
- Ethereum Price Prediction: Analyst Identifies MACD Bearish Pattern Despite $417M BitMine Buy
- Analyst Predicts XRP Price Crash to $2 as Open Interest Falls, Death Cross Nears
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.
