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Ripple Whales Lead to XRP Price Drop

by

3 hours ago

Ripple whales exert significant selling pressure on the XRP market by selling over 48 million tokens, leading to a 2% price drop today.

What Are Ripple Whales Selling?

Recent transactions reveal that one notable Ripple whale transferred 20 million XRP to Kraken, valued at approximately $10.98 million. Another whale sold 28.3 million tokens to the Bitso exchange for around $15.39 million.

Will XRP Price Continue to Fall?

Currently, XRP trades at about $0.5446, reflecting the recent decline. With a trading volume of $1.10 billion, the cryptocurrency briefly reached a peak of $0.5538 before falling back.

Potential Market Impact

Given the current situation, XRP’s market is likely to remain volatile. Investors should proceed with caution due to ambiguities surrounding legal matters and the aggressive selling patterns of large holders.

The ongoing legal battle may prolong, affecting market expectations and potentially impacting XRP's ability to enter a favorable upward trend.

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