• Whales have purchased 69 million XRP tokens in the past 24 hours.
• The largest whale activity recorded was the movement of 35 million XRP worth around $15 million to the Bitstamp exchange.
• According to Whalestats, XRP was the most traded token among the top 100 BSC whales.
The cryptocurrency market is heating up with the XRP price dipping in 2022 during the crypto winter. Despite the back-and-forth legal exchange between Ripple Labs and the U.S. Securities and Exchange Commission, the token is still attracting interest from whales and institutional investors. WhaleAlert reported that whales had moved 128 million-plus XRP worth close to $53 million in the last day. The largest whale activity recorded in that period was the movement of 35 million XRP worth around $15 million to the Bitstamp exchange.
Furthermore, according to the data, whales have purchased up to 69 million XRP tokens in 24 hours. The first accumulation noted by Whale Alert is the addition of 33 million XRP (approx worth above $13 million) to a Bitstamp address. This transaction was followed by another large whale accumulation of 36 million tokens sent to a Bitstamp address worth 14,972,855 USD at the time of the transaction.
Whalestats also reports that XRP was the most traded token among the top 100 BSC whales. The top 100 whales on this list currently have a total of 1.9 million XRP tokens, with the largest whale holding close to 650,000 XRP.
The increasing acquisition of XRP tokens by whales and institutional investors hints at a potential XRP price recovery. This is further supported by the launch of the Flare Network, which is expected to unlock the value of XRP tokens. With the current legal cases, XRP remains a controversial token, but investors with a long-term outlook may still be able to capitalize on the future potential of the coin.