Ripple (XRP) investors made many large-volume transfers over the past week. If whales sell these tokens, a huge price drop could occur.
According to Whale Alert, several large XRP transactions in the past few days took place.
Cumulatively, more than 1 billion XRP was transferred last week. Also, millions of dollars worth of XRP transfers continue on December 20.
🚨 55,300,000 #XRP (18,810,978 USD) transferred from #bitso to unknown wallethttps://t.co/zLLz1bvYS5
— Whale Alert (@whale_alert) December 20, 2022
XRP Whales Are Quite Active
Whale Alert has detected more than 500 million XRP transfers in just five transactions in the last 24 hours. The total value of these tokens is equivalent to $171 million.
The biggest transaction that took place was a transfer from Binance to an unknown wallet 14 hours ago. Whale transferred 325.8 million XRP worth $112 million.
As we have reported as Koinfinans.com, this movement of whales is carried out to send assets to central exchanges for sale or to personal wallets for storage.
The XRP price has lost 13% after the whales’ transfers last week. This decline may be a sign that whales are preparing to sell. This concern puts pressure on the price.
On the other hand, the community Ripple He is focused on the news coming from the front. Ongoing litigation and ecosystem developments have been quiet for some time. The strengthening of the bear market is another factor that has a negative effect on the price.
Something BIG is going to be announced in the next coming days for $XRP and Ripple!
This was hinted at by David Schwartz in response to Charles Hoskinson!
— MASON VERSLUIS 🏆🔮 (@MasonVersluis) December 19, 2022
XRP has lost 1% on the day and is getting weaker and weaker. As a result, it was trading at $0.339 at the time of writing, adding to its one-week losses.
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.