Recent developments around XRP, including significant investment inflows and token transfers, are attracting attention in the cryptocurrency community. Despite price drops, this situation may suggest ongoing investor support.
Increases in XRP inflows amid price drops
XRP is trading at $2.18, down from $2.22 over the past 24 hours, marking a 0.4% decline. However, trading volume surged by 47.30%, reaching $1,581,635,444. Over the past week, XRP has recorded an 8.1% gain, prompting some market participants to lock in profits.
Large XRP transfers between wallets
Blockchain tracker Whale Alert reported that around 640 million tokens were transferred in three transactions. The total value of these transfers amounted to nearly $1.4 billion. All transfers were between unknown wallets, sparking discussion in the community.
Symbolic transfers and investor confidence
The XRP wallet tracking service identified SBI VC Trade as the origin of a 320 million XRP transfer in two transactions. These movements reassured community members due to the traceable origin of the assets, reducing speculation about market manipulation.
The sustained inflow of funds indicates continued interest from both institutional and retail investors. Despite price declines, consistent investment interest may in some measure signal confidence in the future of XRP.
