XRP News: Over 592 Million XRP Moved: What Are Whales Up To?

XRP News: Ripple’s native crypto, XRP witness a significant increase in whale movement. However, crypto whales have been on an XRP accumulation spree since December 2022 as Ripple Vs the SEC lawsuit is edging closer to a judgment. Meanwhile, the tracker reported that in just six separate transactions, a total of 592,258,033 XRP (worth $227,439,311) were moved across the platform.

XRP and Crypto Whales: Something Smells Fishy

According to Whale Alerts, an on-chain whale transaction analytics platform, Mysterious whales moved 592.25 million XRP tokens in six different transactions. A whale moved 232,000,000 XRP worth $88.721,867, the largest of the six transactions, from one unknown wallet to another unknown wallet.

A second whale moved 218,000,000 XRP worth $84,153,392, once again from an unknown wallet to another unknown wallet. In the third and fourth transactions, 63,000,000 XRP worth $24,213,047 was moved from unknown wallets to the crypto exchange Bitstamp.

In the fifth transaction, a crypto whale moved 44,000,000 XRP tokens worth 16.869,516 from Bitso, a crypto exchange, to an unknown wallet. And the last transaction, 35,258,033 XRP was moved from the Binance exchange to an unknown wallet. Read more XRP news here…

In the Deep Shade of Red

At the time of writing, the XRP price is trading at $0.3644. The 6th-ranked crypto asset by market cap is down more than 4.88% in the past 24 hours. XRP is also down more than 5.79% from its one-month high.

The bearish sentiment from the broader crypto market left XRP in the deep shade of red, with no Ripple Vs the SEC lawsuit updates to distract investors.

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Disclaimer: The information provided in this article is solely the author’s opinion and not investment advice. The whole purpose of “XRP News: More Than 592 Million XRP Moved: What Are Whales Up To?” is to educate and provide information about what is trending in the crypto space. Anyone planning to invest in crypto assets should seek his or her own independent financial or professional advice.