As recorded on December 10, the trading price of XRP was hovering within two particular ranges. On the lower end, the value of XRP was at $0.386 and on the higher end, it was reportedly at $0.390 per XRP.
The data showed that with a valuation of $19.60 billion, XRP ranked as the seventh-largest cryptocurrency in the entire crypto-verse.
The trading volume recorded for XRP on December 10 was at a high of $423 million and that value was recorded in a 24-hour period.
It is among the tokens that have been performing well against the market downtrend. There is so much going in around XRP that has led to the price of the asset moving higher.
The report suggests that the value of the dollar has surged by 17% in the past 30 days. This is a surge that hardly any other major crypto has managed to match in the same period.
XRP-Whales are Active
In the same period, as the price of XRP has continued rising, the XRP whale has also started to react to the market trends.
With the price of XRP mainly remaining bullish in the past 30 days, the whales have continued moving their XRP holdings.
They have either moved them to multiple cryptocurrency exchanges or they have moved them to unknown wallets.
However, it cannot be confirmed why the whales have suddenly become very active in moving the XRP funds here and there.
Whale Alert Report a Major XRP Movement
Whale Alert, a major platform that is known for tracking the movement of whales has recently shared a whale’s movement.
The platform has reported that it has witnessed the movement of a gigantic batch of XRPs from an exchange to an unknown wallet.
The details reveal that the particular whale moved a total of 40 million XRP. Taking into consideration the current trading price of XRP at $0.3846, the particular batch translates to over $15.30 million.
The particular batch was moved from the Bitso cryptocurrency exchange but it is still not known which wallet they were sent to. The particular activity was recorded on December 8, 2022.
A Batch of 143 Million XRP
Whale Alert also highlighted another batch almost four times largest than the 40 million XRP batch. This time, the platform witnessed a whale moving a total of 143 million XRP tokens.
The total valuation of the mentioned XRP batch, with the current trading price, is almost worth $55 million. The particular activity was recorded on December 9, 2022.
Multiple XRP Movements on Exchanges
The platform recorded the movement of many more batches carrying millions of XRPs.
The data shows that one whale moved 37.7 million XRP and another one moved 27 million XRP to Bitso.
Then came the whales who were moving funds to Bitstamp. One whale moved a large batch of 40 million, the second one moved 60 million, and the third one moved 35 million XRP to Bitso.
Several whales made transfers to Bittrex, Binance, and even to unknown wallets from Ripple.
There was a whale that transferred over 324 million XRPs to Bittrex. Another whale moved more than 3.8 billion XRP from the Bittrex exchange to an unknown wallet.
Binance also recorded huge XRP batch movements. One whale moved 76.3 million XRPs to Binance, another moved, 26 million XRP, and then another 22.72 million XRPs.
The total XRPs moved to and from these exchanges translates to over $1.80 billion, which is a gigantic figure.
Potential of a Huge Dip
As per the analysts, the movement of so many XRPs must not be taken lightly. There is no telling what the whales may have in mind. If they end up selling these XRPs, it can cause a major dip in the price of the asset.
This may trigger a major selling spree and cause the price of XRP to move as low as $0.30.
