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HomeCrypto NewsMarketWhales Move 259M Coins As XRP Outperforms Top 20 Assets

Whales Move 259M Coins As XRP Outperforms Top 20 Assets

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XRP leading the top 20 coins by market cap.



XRP whales have recently moved over 259M tokens, as the asset’s price rises by 10% in 24 hours, outperforming all assets on the top 20 list by market capitalization.

Whales are again moving large amounts of XRP in successive transactions. The community witnessed the movement of 259.4M XRP tokens in six whale transactions within the past 24 hours amid the market’s comeback against the bears.

Whale Alert recently indexed all six transactions involving the movement of XRP between exchanges and unidentified wallet addresses. The first transaction saw a whale movement of 30M XRP valued at $10.3M between two wallet addresses within the Luxembourg-based exchange Bitstamp. The transaction occurred on November 14, 2:38 PM (UTC).

 

Barely 6 hours later, another XRP whale movement involving Bitstamp occurred. This time, the exchange saw an inflow of 60M XRP ($21M), as transferred from an unknown wallet on November 14, 8:01 PM (UTC).

In less than a minute, 63.8M XRP tokens worth $22.4M were once again moved between two addresses within Bitstamp.

 

 

Additionally, Latin American exchange Bitso witnessed a similar whale movement concurrently with the Bitstamp transaction. A whale transferred 30M XRP ($10.5M) from an unidentified wallet to Bitso on November 14, 8:01 PM (UTC).

Shortly after, Bitso saw an outflow of 43.2M XRP worth $15.3M at 8:15 PM (UTC).

 

The most recent transaction involved an outflow of about 32.4M XRP worth $11.9M from the world’s largest exchange Binance on November 15, 4:07 AM (UTC).

 

These movements coincide with the panic pumped into space by the FTX saga. Additionally, It is not uncommon to witness such whale movements at a time when an increase hits an asset’s price action in volatility. At such a point, investors scramble to move their assets to appropriate channels to make suitable trade decisions. The Crypto Basic previously reported the movement of over 244M XRP when the XRP price plummeted on Nov 11.

However, XRP has soared by 10.86% in the past 24 hours, making it the highest-gaining asset in that timeframe amongst the top 20 list of cryptocurrencies by market cap. The recent rumors of a settlement between Ripple and the SEC might have contributed to XRP’s price surge, as previously reported. Amid a healing market, the XRP has risen to $0.38 as of press time as it makes its way to reclaim the 40-cent zone.

Amid the FUD spread by the developing FTX situation, XRP fell alongside the rest of the markets, as it plummeted to $0.32 on November 9 – a value last witnessed mid-July. Despite the fall, XRP showed more resilience against the damaging effects of the FTX saga than the majority of assets. Now that the markets are staging a recovery, it appears to be one of the highest-gaining.

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Albert Brown
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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