An Unknown Whale Purchase A Total Of $500 Million Worth Of XRP, XRP Spikes From Its 48-Hour Low To $0.37 At 6% Increase

Following the massive accumulation of the XRP, its price action spiked by almost 6%. An unknown whale amassed a total of $500 million worth of XRP on the 16th of September, 2022. The development was shared by CryptoVinco, a cryptocurrency data provider that covers market updates about top cryptos, especially Ripple. 

Read Also: LUNC Community Asks Central Exchanges To Implement Tax Burn Proposal On Off-Chain Activities Via New Proposal

After the fat purchase, Ripple’s XRP spiked from a 48-hour low of $0.324 to $0.37 at an almost 6% increase as stated by Coingecko.

Per CryptoVinco, XRP appears to be decoupling from the entire crypto market, as the asset’s price is up while others continue to decline. 

Read Also: Additional 32 Billion LUNC Is Staked In The Past Few days, Sentiment Is Positive

“$XRP seems to be decoupling from the rest of the crypto markets, a mega-whale purchased over $500 million #XRP yesterday while other coins tanked. Do they know something we don’t?,” CryptoVinco tweeted. 

Per data from the whale alert, a whooping 421,219,375 (421.21 million) XRP tokens have been shuffled between cryptocurrency exchanges and unknown wallets some days ago. At the current exchange rate, the funds were worth $379.58 million. 

As gotten from the whale alert, these transactions mainly involved Ripple’s ODL crypto exchange partners like Bitso and Bitstamp.

  • 1387 Posts
Cryptolifedigital is a cryptocurrency blogger and analyst known for providing insightful analysis and commentary on the ever-changing digital currency landscape. With a keen eye for market trends and a deep understanding of blockchain technology, Cryptolifedigital helps readers navigate the complexities of the crypto world, making informed investment decisions. Whether you're a seasoned investor or just starting out, Cryptolifedigital's analysis offers valuable insights into the world of cryptocurrency.