24/7 Cryptocurrency News

XRP Whales Dump 46 Mln Tokens, Is Nosedive To $0.55 Inevitable?

The XRP price has plummeted lower than the $0.57 level after a massive selloff move by whales and its parent company, Ripple.
Published by
XRP Whales Dump 46 Mln Tokens, Is Nosedive To $0.55 Inevitable?

All’s not well for XRP, the native token of Ripple. The crypto has been registering new lows after being hit by a bearish turn. The pullback comes right after the token’s massive gains last week. Moreover, the situation has worsened due to massive whale selloffs alongside Ripple’s offloading of 80 million XRP.

Advertisement

XRP Whales Offload 46 Million Tokens

On Wednesday, January 17, two major whale transactions were recorded for XRP, according to a post on X by Whale Alert, a blockchain tracking avenue. Over 46 million tokens were dumped onto exchanges via these transactions. The first transfer marks a shift of 26.1 million XRP worth $14.92 million from an unknown wallet to Bitstamp, a crypto exchange headquartered in Luxembourg.

Whilst, the second transaction witnessed a transfer of 20.1 million XRP from an undisclosed to Bitso, a crypto trading platform founded in Mexico. The transaction was worth $11.48 million, leading to a total XRP whale dump worth $26.4 million. This move could trigger further declines in XRP price.

Earlier, Ripple had also initiated a significant selloff move. On Tuesday, the company moved 80 million XRP tokens to an unidentified wallet. This marked an offloading of two-thirds of the company’s XRP reserves, signaling a selloff of over $46 million worth of XRP.

Also Read: Ripple’s Brad Garlinghouse Cancels US IPO Plan, What’s Next?

Advertisement

XRP Price Falls To $0.56 Level

The XRP price continued plummeting after Ripple shifted the tokens, signaling that it played a catalyst in the nosedive. Moreover, it extended lower than the $0.57 mark. As of writing, XRP traded at $0.5667, down by 0.73% on Thursday, January 18, and held a market cap of $30.83 billion.

Meanwhile, the 24-hour trade volume witnessed a slight increase. The trading volume was recorded to be $910.79 million, up by 2.04%. Earlier, the crypto managed to soar to a high of $0.6223 last week. However, the gains were short-lived and the XRP price is now 85.23% lower than its all-time high of $3.84. In addition, the recent selloffs could push the price lower to the $0.55 level.

Also Read: XRP Lawyer John Deaton To Attend Coinbase & SEC’s Face-Off

Advertisement

Share
Coingapestaff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Cathie Wood’s Ark Invest Eyes Stake in Tether as USDT Issuer Targets $500B Valuation

Tether Holdings is preparing for one of its biggest funding rounds, with two global investors…

September 26, 2025
  • 24/7 Cryptocurrency News

Kraken Secures $500M at $15B Valuation, Eyes IPO in 2026

Kraken raised $500 million, increasing its valuation to $15 billion, setting the stage for a…

September 26, 2025
  • 24/7 Cryptocurrency News

Bybit Lists Ripple’s RLUSD Following BlackRock and VanEck Integration

Crypto exchange Bybit has announced its listing of Ripple's RLUSD amid the stablecoin's growing adoption.…

September 26, 2025
  • 24/7 Cryptocurrency News

SWIFT Plans Stablecoin and On-Chain Messaging Pilot on Linea, Challenging Ripple

The world's largest interbank messaging network SWIFT has selected Ethereum layer 2 platform Linea to…

September 26, 2025
  • Bitcoin News

Breaking: U.S. PCE Inflation Rises To 2.7% YoY, Bitcoin Bounces

The August U.S. PCE inflation data has dropped in line with expectations, although it suggests…

September 26, 2025
  • 24/7 Cryptocurrency News

Breaking: $10 Trillion Vanguard Plans to Offer Crypto ETFs to Brokerage Clients

Asset manager Vanguard, with $10 trillion in assets under management (AuM), is planning to offer…

September 26, 2025