XRP News: Almost 1 Billion XRP Moved Amid Ripple CEO’s SVB Exposure Talks

XRP News: Ripple’s native token, XRP price hasn’t moved much over the past week while the biggest digital assets like Bitcoin (BTC) and Ethereum (ETH) prices have registered a remarkable recovery. However, the crypto whales seem unaffected by the recent bank crisis and its repercussions on the crypto market.

XRP Whale On The Move

According to the data provided by WhaleAlert, crypto whales have moved 916 million XRP over crypto exchanges in multiple transactions over the past 24 hours. The single largest transaction recorded by the tracker has been of moving 278 million XRP (approx worth $100 million) among unknown wallets.

However, WhaleAlert reported that a wallet tagged as Ripple transferred 200 million XRP (approx worth $72.7 million) to an unknown wallet.

Meanwhile, whales have been caught moving XRP in bulk to the crypto exchanges in order to dump the tokens. Data shows that 161 million XRP (approximately $60 million) have been moved to the Bitstamp crypto exchange. The biggest dump transaction recorded has been of moving $18.6 million worth of 51 million XRP to the exchange. Read More XRP News Here…

Data shows that a whale address has bought $11.3 worth of 31.3 million XRP while other whales are moving to dump their holdings.

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XRP price haven’t shown much movement over the past 7 days. However, XRP price has surged by more than 2% in the last 24 hours. It is trading at an average price of $0.36, at the press time. XRP’s 24 hour trading volume is down by 6% to stand at $1.4 billion.

These XRP whale movements have come amid the statement given by the Ripple CEO, Brad Garlinghouse around rumors of their funds stuck in the Silicon Valley Bank. In a Twitter Thread, Ripple CEO stated that Ripple had some exposure to the collapsed bank as it was their banking partner at the time.

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]