XRP, as one of the leading altcoins in the market, has once again captured the attention of investors today (November 28) due to the increasing activity of whales around the token. Whale activity continues to send tokens to central exchanges and unknown wallets.
While whale movements are taking place, there have also been slight price declines in the XRP price due to this increase in activity. According to data from the Whale Alert platform, two large transactions were carried out today.
In two transactions that closely interest market observers, approximately 80 million XRP were sent from Ripple to an unknown wallet about 9 hours ago. The value of the coins sent to this wallet was stated to be $48.11 million.
These transfers may reflect a possible decrease in circulating supply, which could result in a price increase. Despite this, the price of XRP is moving in the opposite direction.
In the second XRP transaction, 26.70 million XRP were transferred to Bitstamp. The transfer occurred about ten hours ago from an unknown wallet, and the current value of these tokens was recorded at $15.97 million.
At the time the article was written, the XRP price experienced a movement of 0.1% in the last twenty-four hours and is trading at $0.6033. Additionally, the cryptocurrency, which experienced a sharp rise in the past weeks, saw a small decline of 1.29% last week. The twenty-four-hour trading volume also shrank by 24.84%, dropping to a value of $1.06 billion.