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Ripple’s native crypto, XRP, witnessed a much awaited relief rally at the beginning of this week. This bullish rally took <a href="https://news.todayq.com/xrp-breaks-resistance-with-20-surge-with-285m-whale-move/" rel="noopener noreferrer nofollow">XRP to gain by over 20%</a> in the span of just a few hours. However, as the upward rally cools down, crypto whales have been caught making huge transactions over major centralized exchanges. XRP whales buying the dip? 
According to the data shared by WhaleAlert, crypto whales have moved more than 107 million XRP (approx worth $81 million) in multiple transactions over the last 24 hours. The biggest transaction recorded by the tracker turns out to be a whale moving 22.6 million XRP (approx worth $15.48 million) and depositing to the crypto exchange Bitstamp.
As we dig in, it turns out that crypto whale wallets have accumulated a huge amount of XRP tokens over the last day. Data shows that these whales moved more than 85 million (approx worth $65.8 million) from the crypto exchange Binance. However, the biggest accumulation transaction recorded by the tracker has been on adding 19.7 million XRP (approx worth $13.6 million).
It is important to note that XRP price has dropped by almost 3% in the last 24 hours. This suggests that crypto whales were buying the dip opportunity. However, this price correction came in after a huge jump. The recent surge on Monday saw XRP breaking through multiple resistance levels. It rallied 20% from $0.6177 to a new yearly peak above $0.7440. Ripple losing on a big rally? 
Ripple’s native crypto seems to be lagging in the ongoing bullish market rally. Its price is only up by a mere 10% on the year to date (YTD) basis. On the other hand, top tokens like Bitcoin (BTC) and Ethereum (ETH) prices are up by 71% and 74%, respectively.
XRP is trading at an average price of $0.679, at the press time. Its 24 hour trading volume is down by 60% to stand at $3 billion. However, it is still the 6th biggest crypto with a market cap of $36.8 billion.
This drop came in the presence of Bitcoin’s victory march to attain the new ATH of $73,637. BTC has gained more than 50% in the last 30 days. While the recent surge has helped Ripple’s native token to gain by 29%. However, Ether’s price has seen a jump of 50% in the same period.
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XRP whales on the move as XRP price drops after 20% surge

Todayq News

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