XRP is continuously witnessing whale movements amid crypto winter. Such whale movements in the XRP network create belief in founders and investors that XRP is building a big move ahead. Over the past few weeks, there has been an emerging whale movement in leading cryptocurrencies like Ethereum and other ERC-20 tokens, but this time it is XRP.
421 Million XRP On The Move
The whales of the XRP community continue to move a massive amount of XRP to exchanges. According to Whale Alert, over 421 million XRP tokens worth $379.58 million have been transferred between anonymous wallets and exchanges in the last 24 hours.
Some of the transactions were made between Ripple’s On-Demand Liquidity (ODL) crypto exchange partners, Bitstamp and Bitso. It is asserted that the transactions were mostly ODL-business between those two crypto exchanges and Ripple.
The first XRP transaction took place 16 hours ago. Per Whale Alert, 30 million XRP tokens ($10.61 million) were transferred to Bitstamp’s address from an unknown wallet which was probably Ripple. Ripple made another two transactions, a total of 90 million XRP tokens, to Bitstamp’s address. The transaction was worth around $32 million.
Another XRP whale movement was tracked as a transfer of 165 million XRP ($58.98 million) took place between the popular cryptocurrency exchange FTX and an unknown wallet. The movement of a large amount of XRP did not stop here as 30 million XRP tokens ($10.73 million) were transferred from an anonymous wallet to an address on Bitso exchange, Ripple’s ODL partner. The wallet made another transfer of 40 million and 66 million XRP tokens to Bitso simultaneously, whose value was nearly $38 million.
Where Is XRP Headed Next To?
The whale movements in cryptocurrencies have been elevated due to their dominance and hype. According to Coincarp, the top ten whales of XRP control almost 73% of circulating XRP tokens, and the top 20 holders account for nearly 75.35%.
According to CoinMarketCap, XRP is trading near $0.35 with a circulating supply of 50 billion XRP tokens. As the whale movement continuously rises, XRP is witnessing a price action, and bulls are aiming for a breakout at $0.4. Any more whale movements or developments from Ripple may push its price above $0.4. XRP’s price can increase steadily if it holds between $0.36 and $0.37.