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After the recent price movements, XRP seems to be entering a stagnant phase. In addition, the transactions carried out by XRP whales during the period of the price drop are also noteworthy. In recent days, an XRP whale sent approximately 15 million dollars worth of XRP tokens to the cryptocurrency exchange Bitstamp. This transaction could have impacted the XRP price when looking at the charts.
Current XRP Status
According to Whale Alert, known for tracking whale transactions in cryptocurrencies, 25.5 million XRP were sent to Bitstamp. The transaction, which resulted in the transfer of 25.5 million XRP worth 14.75 million dollars from an unknown wallet to Bitstamp, caused panic among investors. Such situations are generally associated with a potential sale by investors.
The amount sent to the exchange was not the first transaction carried out this week. Yesterday, whales also made transfers of millions of XRP tokens to exchanges.
On Sunday evening, there were rumors about the transfer of 25.6 billion XRP (worth 14.85 billion dollars) to Bitfinex, but it was later reported that the incident was an attack. This news, which suddenly affected the market, represented a large part of the cryptocurrency supply.
Bitfinex CTO Paolo Ardoino immediately made a statement after the incident, describing it as a ‘Partial Payment Attack’. However, a subsequent statement by Whale Alert contradicted the CTO, revealing that the situation was due to an error in reading the Ripple node response.
Today’s XRP Price
Last week, XRP had risen to the 0.60 dollar price level but failed to maintain stability in that area. The short-lived period and news of the attack reversed the situation.
The XRP price has fallen to 0.58 dollars at the time of writing. As of the writing time, the XRP price is trading at 0.57515 dollars on Tuesday, January 16, with a decrease of 1.01%.
At the time of writing, the XRP coin has a market value of 31.16 billion dollars, reflecting a decrease of 1.07% specific to altcoins. At the same time, the 24-hour trading volume has dropped by 3.65% to 948.30 million dollars, indicating a decrease in investor interest.
XRP price had risen to 0.6223 dollars on January 11, delighting investors with the prospect of a new upward movement. However, the subsequent downward trend took back most of these gains from investors.
