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HomeCrypto NewsMarketRipple Price Soars Nearly 10% After Unknown Whale Purchased $500 Million Worth of XRP  

Ripple Price Soars Nearly 10% After Unknown Whale Purchased $500 Million Worth of XRP  

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XRP price is rallying while the value of top 10 cryptos plummet. 

Ripple (XRP) has surprised many investors over the last 24 hours as the asset class records the largest gains among the top 10 cryptocurrencies by market capitalization. 

XRP is up 8% in the last 24 hours after it was reported that an unknown whale purchased a whopping $500 million worth of XRP yesterday. The development was shared by CryptoVinco, a cryptocurrency data provider that covers market updates about top cryptos, especially Ripple. 

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Following the massive purchase, XRP soared from a 24-hour low of $0.324 to $0.357. Although XRP has slightly dipped and is currently changing hands at around $0.348, the digital currency still remains the best performing cryptocurrency among the 10 largest cryptos by market cap. 

According to CryptoVinco, XRP appears to be decoupling from the entire crypto market, as the asset’s price is up while others continue to decline. 

“$XRP seems to be decoupling from the rest of the crypto markets, a mega-whale purchased over $500 million #XRP yesterday while other coins tanked. Do they know something we don’t?,” CryptoVinco tweeted. 

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

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