Whales Buys XRP Price Dip; Will It Drop More?

XRP News: The infamous Ripple vs SEC lawsuit has been creating tension for XRP. Despite the recent dips in XRP prices, crypto whales are out in force, moving a staggering 114.5 million tokens. An on-chain data provider Whale Alert spotted a series of mounting transactions in the last 24 hours.

Whale Alert Discovers Large XRP Moves

According to the data provider, 114,504,136 XRP tokens (worth $45,329,305) were moved in three different transactions in the past 24 hours. Whale Alert recorded a transfer of 34,000,000 XRP from an unknown wallet to Bitstamp. The transaction occurred on February 20, and the tokens are worth $13,535,175.

Other notable transactions involving XRP tokens include a transfer of 30,200,000 XRP coins worth $12,032,257 from Bitso to an unknown wallet. And lastly, another whale moved 50,304,136 XRP tokens worth $19,761,873 from Binance to an anonymous wallet.

XRP Price is Marginally Low

From a prolonged lawsuit with the US Securities and Exchange Commission (SEC) to the latest partnerships, XRP has gained immense popularity recently in the crypto industry. The regulator sued Ripple Labs back in December 2020, and since then the case has followed some dramatic flow.

However, despite the legal battle, XRP has been able to hold its ground in the crypto market. At the time of writing, the XRP price was hovering around $0.3906, indicating a drop of 0.75% over the past 24 hours. The one-day trading volume for the token is $1,369,894,845.

According to CoinMarketCap, XRP ranks in the 6th position in terms of market capitalization, which is currently at $19.83 billion.

Also Read: XRP Price Analysis: The Factors Holding the Crypto Back from a Bullish Run

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