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Ripple Labs-supported prominent altcoin XRP continues to make headlines with substantial transactions carried out by whales. The on-chain data tracking platform Whale Alert, which captures large movements on blockchains, reported that 126.7 million XRP changed hands in the last 24 hours.
Substantial Whale Transactions in XRP
On-chain data provider Whale Alert detected two significant transactions today targeting XRP. Accordingly, on January 8th, a total of 126.7 million XRP were moved in two transactions. It was observed that the XRP in question was transferred between anonymous wallet addresses and Bitstamp, a centralized cryptocurrency exchange.
The first XRP transaction that caught the attention of the cryptocurrency world involved the transfer of 26.7 million XRP to the Luxembourg-based cryptocurrency exchange Bitstamp. In the second transaction, 100 million XRP were transferred from Ripple to an anonymous wallet address. According to the data, an anonymous wallet address starting with r4wf7… transferred the mentioned XRP to Bitstamp. The transfer from Ripple was made from an anonymous wallet address to another starting with rP4X2….
The XRP transferred between wallets was worth $71.39 million at the time this article was prepared. The high amount of the transaction drew the attention of cryptocurrency market participants.
Current Status of XRP’s Price
Ripple‘s XRP is trading at $0.5589, reflecting a 1.60% decrease in the last 24 hours at the time of writing. Moreover, this decrease is accompanied by a weekly drop of 8.55% and a monthly drop of 13.47%.
Experienced cryptocurrency analyst Cryptoes commented on the decline in XRP. The analyst pointed out that the price of the altcoin is currently below the 21MA. Additionally, the closure of the last daily candle indicated a general downward trend in the market for the altcoin, leading to further bearish implications for it.
