"When you want to go up a lot, it's fun to go up a little for fear that even the investors will get bored later."
After a long period of continuous price decline, the often cited cryptocurrency Ripple (XRP) by many investors finally jumped by 5% last Tuesday.
This followed XRP's initial drop in the opening of 2023 to the $0.30 level before rebounding.
The following bullish reaction reportedly came as whales were found to have moved large amounts of XRP in the past 24 hours despite speculation that its lawsuit with the Securities and Exchange Commission (SEC) may not reach a settlement.
By observation, whales have recently transferred over 1 billion XRP worth $366 million in various different transactions.
Among the largest recorded transactions was the transfer of 500 XRP worth $175.2 million, but as much as $106 million was reportedly moved from an unknown wallet to a wallet named Ripple very quickly.
In addition, whales also transferred around 40 million XRP worth $4.1 million to the crypto exchange company, Bitstamp to generate some profit while the price of the digital asset is in an upward momentum.
Whales also reportedly locked around 700 million XRP worth $246.2 million in escrow accounts through various transactions.
As of this writing, XRP price is hovering in the $0.34 zone in the last 24 hours with a trading volume of $1 billion while its market cap is over $17.4 billion.
