A platform that tracks and provides information about whale movements in the blockchain, Whale Alert, recently released data showing the significant whale activity specifically in XRP.
According to the data obtained, a major XRP whale transferred a large amount of XRP to centralized exchanges in multiple transactions. The recent surge in XRP price has brought more attention to these whale activities and gained significant interest in the crypto world.
XRP Coin Whale Activity
Today, as of November 23, an unknown crypto wallet with the address r4wf7enWPx…5XgwHh4Rzn transferred a total of 43.80 million XRP to two different CEXs, Bitstamp and Bitso.
This initial transaction, which did not go unnoticed by crypto market followers and Whale Alert, took place approximately 9 hours ago. 18.10 million XRP was sent to Bitso, a crypto exchange based in Mexico City. The value associated with this token amount was $11.02 million at the time of writing.
In another notable transaction, 25.70 million XRP was transferred to the leading crypto exchange Bitstamp. The transfer to Bitstamp was made by the same wallet with the address r4wf7enWPx…5XgwHh4Rzn. The token amount transferred to Bitstamp had a value of $15.66 million at the time of writing.
The transfer of cryptocurrencies to centralized exchanges reveals an overall increase in supply, which in turn reduces the price along with the token demand. Despite the ongoing whale movements for days, the XRP price has continued to rise despite increased whale activity.
Future of XRP Coin
As of the time of writing, the XRP price rose to $0.6134 with a slight increase of 0.041%. In addition, the trading volume experienced a significant decrease of 25.57% in the last twenty-four hours.
Interestingly, the XRP price fell below $0.6 level yesterday, which drew significant attention from investors. However, the token revived itself in the crypto markets by showing notable gains in the last twenty-four hours.
There are still many predictions about the price of the altcoin. While analysts question when the $1 level can be surpassed, they continue to dream about XRP trading above $30. Yesterday, an unnamed official from Ripple compared XRP and XLM to the future of the banking sector and the potential Pepsi-Coca-Cola duo.
