XRP Price Stands Stable Amid Market Crash; Is This Whale Effect?

XRP News: The global digital asset market saw a heavy decline on Friday as the largest of the cryptos like Bitcoin (BTC) and Ethereum (ETH) price slides by more than 4%. However, Ripple’s native token, XRP stood its ground amid the market crash, while, crypto whales went on to move more XRP tokens.

Are Whales Dumping XRP Price?

As per the data provided by WhaleAlert, crypto whales moved more than 161 million (Approx worth $62 million) in multiple transactions over the past 24 hours. The single largest transaction recorded by the tracker has been moving 39 million (approx worth $15 million) from the Bitso crypto exchange.

Crypto Whales have been caught dumping around 100 million XRP (approx worth $37 million) over the past 24 hours. Around 69 million XRP (approx worth $28 million) were moved to the Bitstamp crypto exchange. While 27 million XRP (approx worth $11 million) were dumped on the Bitso crypto exchange. Read More XRP News Here…

Whales Going For The Dip?

On the market side, XRP price have dropped by just 2% amid a heavy crypto market fall. XRP is trading at an average price of $0.383, at the press time. As per the data, XRP liquidation has breached over $4 million over the last day. However, its 24 hour trading volume has spiked by 45% to stand at $1.41 billion.

Data further depicts that whales went on to accumulate XRP grabbing the buy the dip opportunity. Crypto whales went on to add more than 65 million XRP tokens (approx worth $15.3 million) in multiple transactions. The largest accumulation transaction recorded by the tracker has been of adding more than $15.3 million worth of XRP from Bitso.

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]