Unfortunately, crypto investors did not get the sign they expected from the Fed. Therefore, there was a selling pressure in the market. This environment also allowed whales to add more Ripple (XRP) tokens to their wallets. Also, deep-pocketed investors added $10 million worth of Shiba Inu (SHIB) tokens to their stash in the last 6 days.
Whales collect XRP as prices fall!
cryptocoin.comAs you can follow, Ripple (XRP) has rallied well over the past month. Ripple’s significant gains in its case with the SEC likely played a role in the background of this rally. However, with the increasing selling pressure in the market, XRP started to decline. Taking advantage of the price drop, the whales took action and filled their wallets with XRP.
According to whale watching platform Whale Alert, whales have received 129 million XRP tokens (about $59.56 million) in the last 24 hours. The platform, which also monitors token movements, has detected some important transfers. Accordingly, whales have moved more than 198 million XRP tokens in the last 24 hours. Also, data shows that more than $31 million in XRP has been moved to Binance. However, the largest transaction Whale Alert recorded was 60.92 million XRP transfers. A whale wallet moved $28.4 million worth of XRP from Bitstamp to its wallet.
Whales also moved over 67.5 million XRP tokens from the FTX crypto platform to Binance. According to experts, this move may have been made due to the expectation of further price increases. Meanwhile, the XRP price has dropped more than 3.5% in the last 7 days. For now, its price seems to be stuck in the $0.45 price range. The altcoin is changing hands at an average of $0.4508 at press time.
Whale wallets have these besides SHIB
WhaleStats, another whale watching platform, shared the activity of whales on the popular meme coin Shiba Inu (SHIB). Accordingly, the top 100 Ethereum whales have increased their SHIB positions by around $10 million since the end of October. Whales currently hold 8.21 trillion SHIB, equivalent to about $100 million. The meme coin currently holds 4% of the portfolio of Ethereum whales. Ahead of SHIB is only Lido Staked ETH (stETH) and Wrapped Bitcoin (WBTC), apart from stablecoins and ETH.
Meanwhile, the DOGE narrative played an important role in the SHIB price pump that started on October 28. During this period, SHIB quotes rose more than 40%. But today, after a sell-off, it lost a third of that increase. However, according to whales’ trading history, recent SHIB price behavior and whales’ movements did not become contiguous events as in previous cases.
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