Ripple's cryptocurrency, XRP has managed to maintain its upward momentum over the past week. XRP has boosted positive sentiment in the crypto market. Among the biggest impetus for the matter is the movement of the 'whale' group which turns out to be one of the main reasons behind the recent surge in XRP prices.
WhaleAlert reports that the Whale cluster moved more than 400 XRP tokens (approximately $154 million worth) in multiple transactions over the past 24 hours. The single largest transaction recorded was the transfer of 262.3 million XRP tokens (Estimated value of $97 million).
The data shows that Whales collected 86.8 million XRP tokens (worth approximately $32 million) in various transactions. However, one Whale acquired 45.8 million XRP tokens worth $17.1 million in a single transaction from Bitso, a crypto exchange.
This move has caused the price of XRP to jump by 3% in the last 24 hours. XRP is trading at an average price of $0.3749. At the same time, XRP's 24-hour trading volume amounted to around $1.08 billion with a total market capitalization of over $18 billion.
As already known, XRP is still overshadowed by legal challenges from the SEC.
Meanwhile, several groups of Whales also transferred millions of XRP from their wallets to crypto exchanges for sale. Based on the data, 68 million XRP tokens (worth approximately $25 million) were moved by a group of Whales. The largest transaction on record was the transfer of $13.9 million worth of XRP to Bitstamp, a cryptocurrency exchange.
