XRP Rally As Whale Moves 55 Mln Tokens, Know More Here

In a recently reported transaction, a whale made a huge transfer of 30 million XRP tokens to an anonymous wallet.

Whale Alert, a popular cryptocurrency tracking platform, reported that the XRP tokens were transferred from Bybit. It’s worth noting that the transaction, made on October 31, is the second such hefty transfer in the past couple of hours. 

On the same day, Whale Alert spotted another mysterious move of XRP tokens. According to Whale Alert, 25.30 million XRP tokens, worth around $14.68 million, were transferred from an unknown wallet to Bitstamp. 

As per sources, one of those anonymous wallets in which the huge XRP tokens were transferred is said to be associated with Ripple Labs.

Latest XRP Whale Moves

The recent data has revealed a common trend in the XRP market, as whales have been actively accumulating millions of tokens over a short period, mostly reported in the past three weeks.

On October 30 alone, two humongous transactions of XRP tokens were made. This surge in whale activity has sparked intrigue and speculation among crypto enthusiasts, suggesting a strong bullish sentiment toward Ripple’s remittance token. 

The investors have kept a close watch on the recent transaction, especially amid a positive sentiment in the broader market. Notably, anticipation over Bitcoin Spot ETF approval seems to have bolstered gains in the market.

In another recent event, Bill Morgan, a prominent advocate for XRP, delivered encouraging updates to the XRP community about XRP Healthcare, a pioneering pharmaceutical and healthcare platform operating on the XRP Ledger (XRPL). Building on Ripple Labs’ precedent, XRP Healthcare is taking significant steps to extend its presence into the dynamic healthcare sectors of Dubai and the Middle East.

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XRP Price & Performance

The XRP price was up 8.42% to $0.6057 during writing, suggesting a bullish sentiment among the market participants. Simultaneously, its volume over the past 24 hours rocketed 145.09% to $2.15 billion, while its market cap soared 8.42% to $32.44 billion during writing.

Over the past seven days, the price of the crypto soared more than 10%, indicating renewed interest of the traders. Over the past 30 days, its price noted gains of over 17%.

Given the recent gains, it seems that the investors are regaining their confidence in the digital asset space.

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