After showing positive momentum over the past few weeks, the cryptocurrency Ripple (XRP) has now lost at the beginning of the week after making a price decline following the occurrence of correlation with the traditional market.
However, the 5% drop in XRP price in the past 7 days, which is the lowest drop among the top 10 cryptocurrencies has given whale investors a golden opportunity to grab more XRP at a discount.
Through Whale Alert, most whales have added 144.2 million XRP tokens worth $66.9 million in their respective wallets.
While the biggest whales also bought the digital asset with a total of $35.67 million registered from crypto exchange Crypto.Com.
It is also understood that whales have transferred 60 million XRP from the wallet to crypto exchange Bitstamp with a value of $29.22 million.
The digital asset is said to have made positive gains over the past 30 days following an increase of 41%, trading at $0.48.
In fact XRP trading volume surged 70% at $2.7 billion in the past 24 hours during the release of the US CPI data.
While the long-running case between XRP and the SEC is far from over, the digital asset has held a $2.4 billion market cap after the court recently allowed a third party to file an Amicus brief that would favor XRP.
