XRP Price Update: Whales Move 152 Million XRP; Price Up By 40%

XRP, Ripple’s native cryptocurrency seems to be holding the fort among the biggest of the cryptocurrencies amid increased selling pressure in the market. However, Whales’ interest has also spiked in favor of the XRP which has helped the coin to the registered recent price surge.

XRP price up by 40%

XRP price have managed to jump by around 40% over the past 30 days. While the biggest of the cryptos like Bitcoin and Ethereum prices have declined by around 12% and 27% respectively in the same period of time.

Whale Alert reported that over 152 million XRP tokens have been moved by the whales from several crypto exchanges in the last 24 hours. XRP tokens added by whales worth more than $77 million.

However, the biggest transaction of moving 100 million XRP tokens has been registered from the FTX crypto platforms. This transaction was recorded around the time Ripple announced that expanding further in Europe.

Ripple mentioned that it is dropping two new On-Demand Liquidity (ODL) partners. It has partnered with France based LemonWay and Sweden based money transfer provider Xbaht.

What’s attracting whales?

The blockchain firm mentioned that Ripple’s product demand has remained strong in Europe. As per their Survey, around 70% of European respondents at financial institutions think blockchain will have a major impact on their business for the next 5 years.

This news surely has pumped the whales’ sentiments in the favor of the XRP. However, updates coming from the SEC vs Ripple lawsuit have also boosted confidence among the whales and the XRP holders.

Both parties have submitted their motions for Summary Judgement in the crucial lawsuit. Experts are suggesting that Ripple might have the upper hand in these filings. This might be proved to be a difficult phase for the SEC.

However, XRP is trading at an average price of $0.4939, at the press time. It is the only coin among the top 10 cryptos which has printed green indexes in the past 7 days.