Whales Buy XRP Price Dip; Moves 200 Million XRP

Ripple’s native token, XRP has shed its price after a good gaining run over the past few weeks. However, the global digital asset market is trading under increased volatility due to increased correlation with the traditional market. The cumulative crypto market cap has dropped to stand at $887 billion.

XRP price up by 41%

However, this current price dip seems to be a good opportunity for the whales to buy. XRP prices have dropped by more than 5% in the last 7 days which is the lowest drop among the top 10 cryptos.

The biggest digital assets like Bitcoin and Ethereum prices have dropped by more than 5% and 7% in the same period of time.

According to whale Alert, the multiple whale wallets have added around 144.2 million XRP tokens in several transactions. The total worth of bought XRP tokens is calculated to be approx $66.9 million.

The biggest whale accumulation transaction of adding $35.67 million worth of XRP tokens has been registered from the cryptoCom crypto exchange.

Meanwhile, Whale alert also reported a transaction of 60 million XRP tokens being transferred from a whale wallet to the Bitstamp crypto exchange. The total worth of moved XRP tokens is calculated to be $29.22 million.

Ripple’s token most profitable

XRP is the only crypto among the top 10 digital assets which have given positive returns over the past 30 days. XRP price is up by a whopping 41% in the last 30 days. It is trading at an average price of $0.48, at the press time.

Ripple’s native coin’s 24 hour trading volume has skyrocketed by 70% to stand at $2.7 billion. This surge has been registered amid the announcement of the much awaited CPI data.

However, the XRP token is holding a market cap of $24.1 billion despite facing the long running legal trouble from the SEC. The Court in the recent filing allowed 2 third parties to file Amicus briefs in the favor of Ripple.