Whales have wired close to 450 million XRP between exchanges, while the coin’s price lost 29.5% within 24 hours
As the sixth-largest cryptocurrency, XRP, saw a significant drop in price, big crypto investors moved nearly half a billion of these Ripple-affiliated tokens between exchanges, according to Whale Alert crypto tracker .
The single biggest lump of XRP sent was 300 million.
XRP plunges 29.5%, after Bitcoin
The XRP token recorded a massive fall of almost 30% from $0.5154 to the current level of $0.3626, following the flagship cryptocurrency, Bitcoin, which has since slid more than 16%. yesterday touching the low of $26,300 on the Bitstamp exchange.
By now, BTC has recovered roughly 5%, returning to the $27,600 level.
Ethereum also declined, falling below the $2,000 mark and sitting at $1,900 at press time.
The market has also been stunned by the collapse of the Terra UST algorythmic stablecoin, which plunged below $0.5, losing its USD peg. The native coin of the network, LUNA, also plummeted shamelessly—going below $1 from the recent all-time high of $119.28.
Whales move 440 million XRP
The aforementioned crypto tracking platform, Whale Alert, said that in the past 24 hours, almost half a billion XRP tokens have been shoveled between various centralized crypto exchanges.
Bitstamp and crypto custodial service BitGo have exchanged around 80 million XRP tokens, while the biggest trading platform, Binance, has shifted a staggering 300,000,000 XRP internally. A total of 60 million XRP were sent from Bittrex to Bitstamp as well.
