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421 Million XRP Moved Over Week As Price Rises 15 percent

  • XRP, Ripple's native token, has risen despite market selling pressure.

  • The SEC vs. Ripple litigation is one factor. Case-related updates have prompted crypto whales to add XRP.

27-Nov-2022 By: Simran Mishra
421 Million XRP Move

Despite the increased selling pressure in the cryptocurrency market, 

the price of Ripple's native token, XRP, has managed to rise.

XRP, Ripple's native cryptocurrency, is one of the coins that has continued to rise despite the current market meltdown. The SEC vs. Ripple lawsuit is one of many variables that are driving this spike. Crypto whales have been encouraged to add more XRP by case-related updates, though.

Are whales assisting XRP's upward trend?

The largest cryptocurrency whales, according to report, transferred more than 421 million XRP during the price spike. In the past 24 hours, whales have exchanged almost $170 million worth of XRP.

Whales added 139 million XRP from the cryptocurrency market Bitstamp, which is roughly worth $56 million. The largest accumulation transaction ever was the addition of XRP tokens from the same platform for $24.3 million.

But a whale transferred 162.5 million XRP from an unidentified wallet, which is almost $65.1 million. This transaction shows that the whale is anticipating some good XRP news in the near future.

Almost the past week, the price of XRP has increased by over 15%. As of the time of publication on CoinGabbar, it is trading for an average price of $0.4002. While other coins were printing negative indexes on Friday, the price of XRP increased by 9%. Despite the SEC's legal hurdles, Ripple's native cryptocurrency still has a market cap of more than $20.4 billion.

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