According to market data, XRP is witnessing a surge in investor interest, as it amassed nearly $2 billion in investment over the past week.
Data from the leading price-tracking resource, CoinMarketCap, reveals that XRP’s value has increased by 7.98% under a seven-day window, representing the addition of a staggering $1,909,464,210 to its current market cap of over $23 billion.
Interestingly, XRP amassed this much value while the broader crypto market remained bearish for successive weeks. Furthermore, crypto traders bought and sold over $850 million of XRP in the last 24 hours. Notably, the trading volume is a 101% increase from the figure obtainable in the past.
The $1.6 billion influx of investment within such a short period underscores the growing trust in XRP’s potential and its ability to deliver substantial returns.
XRP’s Whale Movements
This influx comes amid a particular surge in XRP’s whale movements. Recently, Whale Alert, a prominent whale-tracking platform, reported the massive movement of XRP tokens across exchanges.
The whale tracker revealed that 87.3 million XRP valued at over $41 million were transferred from an unknown wallet to Binance 48 hours ago. Similarly, Whale Alert also called attention to the movement of 24.5 million XRP worth over $11 million from an unknown wallet to Bitstamp, a leading crypto exchange based in Luxembourg.
Expectedly, the recent developments sparked reactions from the broader crypto community, eliciting speculations on the reason behind the movements.
XRP Trades Top in Korean Exchanges
As recently reported by The Crypto Basic, XRP has continued to dominate the South Korean crypto market. The asset remains the top-traded crypto in the country, with a trading volume exceeding that of the two largest crypto assets Bitcoin (BTC) and Ether (ETH).
Notably, the combined XRP trading volume on major Korean exchanges such as Bithumb, Upbit, and Coinone in the last 24 hours exceeded $100 million, according to data from CoinMarketCap. Meanwhile, XRP is changing hands at $0.4603, up 0.23% in the past 24 hours.
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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.