Native token of Ripple company XRPhas become one of the most traded altcoins among whales in the last 24 hours. According to the data, there has been a huge increase in the trade volume of whales.
The Ripple company, which entered a major court battle with the SEC in the USA, came to the fore again a while ago, starting to be interpreted as a “securities”. Cryptocurrency whales did not take these headlines seriously and continued to buy tokens. Whale wallets have purchased over $73 million in XRP in multiple transactions, according to Whale Alert.
According to Whale Alert, which tracks whale data, only one whale bought $40.1 million in XRP in a single transaction. This purchase is the largest transaction recorded in the last 24 hours. Another whale caught attention by purchasing $20.7 million worth of XRP.
However, this whale move has helped the XRP price increase by about 2% in the last 24 hours. The 24-hour trading volume of Ripple token increased by more than 30% to $1.02 billion. At the time of writing, XRP was trading at an average price of $0.34. Meanwhile, XRP is still trading 91% lower than its all-time high of $3.84.
Meanwhile, some whales have transferred approximately $33.9 million worth of XRP tokens from their wallets to cryptocurrency exchanges. This move is interpreted as an important detail, indicating that holders are willing to sell their tokens when the price increases.
August Is Positive for XRP
SantimentsAccording to experts, XRP has better NVT charts among crypto tokens. Another noteworthy detail is that its circulation increased instantly on the network in May. However, circulation fell in June due to the rapid collapse of the global crypto market.
Experts add that August looks like the month to reveal bullish or semi-bullish NVT divergence for XRP. However, the chart shows four months in green, which is a positive sign for the upcoming token.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.