Ripple‘s native token XRP hosted significant whale movements despite market uncertainty. Two large whale transactions, moving approximately 84 million XRP, caught the attention of crypto investors and traders. These transactions became even more significant as they occurred during XRP’s downward trend in the last 24 hours.
According to the latest data disclosed by the whale tracking platform Whale Alert, two significant transactions on December 13th, which caused the movement of 83.9 million XRP despite the market’s downward trend, sparked rumors in the crypto market.
An address identified as an XRP whale transferred 23.90 million XRP to Bitstamp. The value of these transactions was calculated to be $14.63 million at the time of writing. Following this, 60 million XRP were transferred from Ripple to an unknown address. This significant transaction led to serious speculation among followers of the crypto market.
The value of the transfer from Ripple to the address rP4X2hTa7A…7XZ63sKxv3 was estimated at $36.64 million at the time of writing. What distinguished this wallet from others was that the address had accumulated a concerning amount of XRP over the past week.
These whale transactions around Ripple for about a month could be a routine reflection of the community’s efforts to increase the value of XRP.
At the time of writing, the price of XRP had experienced a drop of 1.71%, falling to the level of $0.60806. While the price continued to fall, the weekly loss was recorded at 1.69%, with a total monthly drop of 7.37%. Crypto analyst Crypto Barbie mentioned that the current price drop could be the best time to accumulate XRP and that a bull run for XRP could start unexpectedly.