XRP, supported by Ripple Labs, continues to make headlines with substantial transactions by whales. Whale Alert, an on-chain data tracking platform, reported that 126.7 million XRP were transferred in the last 24 hours.
Whale Alert detected two significant transactions on January 8, moving a total of 126.7 million XRP between anonymous wallets and the centralized exchange Bitstamp.
The first transaction involved transferring 26.7 million XRP to the Luxembourg-based exchange Bitstamp, while the second moved 100 million XRP from Ripple to an anonymous wallet.
The value of the transferred XRP at the time of writing was approximately $71.39 million, drawing attention from participants in the cryptocurrency market.
Despite a 1.60% drop in XRP’s price over the last 24 hours to $0.5589, the coin has seen declines of 8.55% weekly and 13.47% monthly. Experienced crypto analyst Cryptoes noted the price is currently below the 21MA, indicating a broader market downtrend.