XRP The coin’s price movement created a huge wave of relief and joy among its holders. Ripple’s native token price has increased by approximately 4% in the last 24 hours. This rise comes after Bitcoin (BTC), the largest cryptocurrency, surpassed the much-anticipated $50,000 price level to spread positive sentiments in the digital asset market.
XRP Whales on the Move
According to data provided by WhaleAlert, crypto- whales moved more than 292 million XRP tokens (worth approximately $156 million) through crypto exchanges in the last 24 hours. The largest transaction occurred when 200 million XRP tokens (worth approximately $106 million) were transferred from Binance to an unknown wallet.
Data shows that in the last 24 hours, many crypto whales moved approximately 265 million XRP tokens (worth approximately $149 million) from Binance to unknown wallets. These transactions suggest that whales saw a buying opportunity and accumulated a large amount of XRP while it was trading below the expected price.
The price of XRP has rebounded by increasing 5% in the last 7 days, but is still down 8% in the last 30-day period. It is currently trading at an average price of $0.527 and its 24-hour trading volume is up 31% to $1.007 billion.
Meanwhile, on-chain trackers spotted a crypto whale dumping XRP holdings. A whale moved 27.7 million XRP tokens (worth approximately $14.7 million) to crypto exchange Bitstamp. This movement may indicate that the whale is looking for an opportunity to take profits and unloads its holdings when the XRP price rises.
Ripple’s New Report
Ripple recently released the second part of its tokenization series. The 2023 New Value Report noted that 72% of respondents plan to explore tokenization in the next three years.
It was emphasized that success requires businesses to develop asset tokenization strategies. It was stated that Blockchain should be adapted to specific industries to reveal its full potential.
Ripple emphasized that Blockchain provides benefits in many areas, from financial assets to carbon credits. Management noted the importance of increasing operating income through increased availability and liquidity. It has also been noted that tokenization lowers costs by reducing barriers and expands access to once inaccessible assets. It was emphasized that liquidity in tokenized asset markets is critical for the realization of all benefits.
