Ripple‘s XRP has always kept the crypto world busy with events from the past periods. Particularly, the days following the mini victory won by the SEC in 2024 were marked by the hacking of a wallet belonging to one of the company’s co-founders, which caused a significant stir. Another notable event on the XRP side was none other than whale activities. Whales continued their activities today, sending millions of XRP to exchanges.
Whale’s Transfer to Exchanges
According to Coinmarketcap data, despite a recent dip in XRP, there was a recovery, and today it generally reflected a positive outlook. This price movement coincided with the period when XRP whales sent millions of tokens to the CEX exchange. On the other hand, derivative data also provided additional insights for XRP and indicated a rise in the market.
On the other hand, the owner of the …Rzn extension address, an XRP whale, seems to have sent their XRP to CEXs over the past few days. This situation has not escaped the attention of crypto market followers and investors.
According to data provided by Whale Alert, which closely monitors whale transactions on the blockchain, the mentioned wallet address sent 25.90 million XRP worth $14.56 million to Bitstamp.
Despite the whale transaction, the XRP price remained stable and continued its strong performance, once again demonstrating investors’ focus on the uptrend.
In recent minutes, a wallet belonging to Ripple sent 60 million XRP to an unknown wallet, and this was detected by Whale Alert.
What is the Current Price of XRP?
As of the time of writing, the XRP price has experienced a 1.21% increase in the last 24 hours and is trading at $0.5675. The token’s market value has increased by 2.02%, maintaining its position as the 6th largest cryptocurrency by market value. With a weekly increase of 8.08%, the token has also made its strong presence felt in the market.
As of the time of writing, XRP’s market cap has reached $30 billion, indicating a 1.44% increase. Additionally, the 24-hour trading volume has risen by over 80% to $1.3 billion, once again highlighting the significant interest investors have in this altcoin.
Despite the price increase, it is important to remember that the transfers to exchanges could bring significant selling pressure. These whales’ potential sales in the coming days could trigger a negative price movement for XRP and signal a drop to investors. Therefore, it would be beneficial for investors to remain cautious and follow the process closely.
