Whales Move 1 Billion XRP; Locks 700 Million In Escrow

XRP News: XRP, Ripple’s native crypto price has been trading under high pressure over the past few weeks. However, XRP price registered a sudden spike of 5% on Tuesday amid building speculation around the no possible settlement in the Ripple lawsuit. On top of that data depicts that crypto whales have moved a heavy amount of XRP tokens in the last 24 hours.

Crypto Whales riding XRP price high?

As per the data provided by WhaleAlert, crypto whales have moved more than 1 billion XRP tokens in the last 24 hours. Around $366 million worth of XRP tokens were moved in multiple transactions.

This single largest transaction recorded by the tracker has been of moving 500 million XRP tokens (approx worth $175.2 million). However, data shows that around $106 million worth of XRP was moved from an unknown wallet to a wallet named Ripple.

While a whale transferred around 40 million XRP (approx worth $14.1 million) to the crypto exchange, Bitstamp in order to book profit amid the price jump. Read More XRP News Here…

XRP price jumped around 5% in the last 24 hours. Ripple’s native token is trading at an average price of $0.35, at the press time. However, its 24 hour trading volume stands at around $1 billion. XRP is still holding a market cap of over $17.4 billion in spite of facing a lawsuit from the US SEC.

700 Mln XRP locked in Escrow

However, WhaleAlert also reported that whales locked around 700 million XRP in an escrow account in multiple transactions. The locked Ripple native token is worth around $246.2 million.