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421 million XRP were moved as the price increased by 15% in a week
XRP, Ripple's native cryptocurrency, is one of the coins that has continued to rise despite the current market collapse.
The SEC vs. Ripple lawsuit is one of many factors driving this surge. However, crypto whales have been encouraged to add more XRP by case-related updates.
Are whales assisting XRP's upward trend?
The largest cryptocurrency whales, according to Whalestats, moved over 421 million XRP during the price spike.
In the past 24 hours, whales have moved about $170 million worth of XRP.
Whales added 139 million XRP from the cryptocurrency exchange Bitstamp, which is roughly worth $56 million.
The largest accumulation transaction ever was the addition of XRP tokens from the same platform worth $24.3 million.
Show Tweet from <blockquote class="twitter-tweet"><p lang="en" dir="ltr">🚨 🚨 60,000,000 <a href="https://twitter.com/hashtag/XRP?src=hash&ref_src=twsrc%5Etfw">#XRP</a> (24,368,563 USD) transferred from <a href="https://twitter.com/hashtag/Bitstamp?src=hash&ref_src=twsrc%5Etfw">#Bitstamp</a> to unknown wallet<a href="https://t.co/qPhNTXHr2f">https://t.co/qPhNTXHr2f</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1596224891849560066?ref_src=twsrc%5Etfw">November 25, 2022</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
But a whale transferred 162.5 million XRP from an unidentified wallet, roughly $65.1 million.
This transaction shows that the whale is expecting some good XRP news soon.
Over the past week, the price of XRP has increased by over 15%.
As of the time of publication, it is trading for an average price of $0.41.
While other tokens were printing negative indexes on Friday, the price of XRP increased by 9%. Despite the SEC's legal challenges, Ripple's native token still has a market cap of more than $20.4 billion.
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