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Whale Moves Over 46 Mln XRP to Exchanges Amid Price Slump – Crypto News

Published

3 years ago

November 30, 2023

Dripp

The XRP cryptocurrency once again caught the eyes of crypto market enthusiasts as the token noted a substantial increase in whale activity as of today, November 30.

As per on-chain data, a whale was noted transferring over 46 million XRP to centralized exchanges in a series of transactions. The increase in whale activity comes amid the price plunge witnessed by the XRP token.

Whale Transactions: Report

Whale Alert, a platform offering blockchain-tracking insights, recently unveiled the data showcasing the whale transfers. As per the data, two whale transactions attracted massive attention within the broader crypto market.

The first transaction was done by an unknown wallet, 4wf7enWPx…5XgwHh4Rzn, transferring 25.10 million XRP to a centralized exchange, Bitstamp. The amount of tokens transferred to Bitstamp totaled a whopping $15.29 million.

Additionally, the second transaction that caught the eyes of investors and traders within the industry transferred 18.50 million XRP to another exchange, Bitso. Reportedly, the same unknown wallet mentioned above was noted transferring XRP to Bitso, a Mexico City-headquartered digital asset exchange.

Following the dumping of XRP to exchanges, the token’s price also noted a slight fall. The price plunge witnessed by XRP appears to fall in line with the recent dumping of XRP to CEXs.

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XRP Price Plunges

At the time of writing, the XRP price witnessed a marginal fall of 0.51% in the past 24 hours, evaluating $0.6053. Furthermore, the token also noted a slight decrease of 1.06% over the past week, along with a 4.28% monthly downswing.

Moreover, one of the leading crypto analysts within the industry, Dark Defender, stated that the community expected the XRP to complete Wave 1, hitting the $0.66 mark on November 24. Subsequently, Wave 1 reached the $0.64 mark on November 26. Furthermore, the Ripple community expected a retrace after Wave 1 and got retraced to $0.6, as per the recent remarks made by the crypto analyst.

Based on the actual structure, $0.64, $XRP is expected to target the $0.75 mark, along with the $0.83 mark in the short run.

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