XRP Price Bucks Market Trend As Whales Move 161 Million Tokens
The XRP price is currently bucking the general market trend and is recording a small gain of around 2% over the last 24 hours. What is noticeable are massive movements by whales over the past few hours.
The cryptocurrency market is on shaky ground given the macroeconomic headwinds and the still not fully digested shock from the FTX collapse.
However, XRP investors don’t seem to care at the moment. On the other hand, data suggests that possibly whales have played their part in this development.
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As the popular cryptocurrency tracker Whale Alert reports, a total amount of 160.6 million XRP was transferred over the past 24 hours. One transaction in particular is causing quite a stir.
According to WhaleAlert, Ripple transferred 50 million XRP from one of its wallets to an unknown wallet. The transaction is currently the subject of a heated debate, with some believing that Ripple may sell some of the XRP they hold.