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572 Million XRP Transferred As Coin Loses $0.5 Level

Sat, 10/15/2022 - 09:33
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Yuri Molchan
Market sees half a billion XRP transferred while XRP price drops from the $0.5 high
572 Million XRP Transferred As Coin Loses $0.5 Level
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Over the past two days, XRP whales have shoveled more than half a billion of Ripple-affiliated tokens, according to data published by Whale Alert.

More than half of this amount was transferred in chunks of 100 million or bigger. These transactions took place while XRP price dropped from the recently reached $0.5 high.

572 million XRP on the move

Whale Alert crypto tracker noticed thirteen massive transactions, moving lumps from 22 million to 40 million XRP between wallets located on top centralized exchanges, such as Ripple ODL partner Bitso, Bitstamp, Binance, Bittrex, etc.

However, three transactions here stand separately, since their size in enormous – 122 million, and two transfers of 100 million each.

It seems that investors have been redistributing their XRP stashes and possibly selling some of them after XRP began going down earlier this week.

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XRP loses important $0.5 price level

On October 9, the sixth largest crypto XRP topped the local high of $0.548 and then starting declining. Within a day from that moment, XRP lost 20 percent of its recent gains.

At press-time, XRP is trading at $0.4805 after dropping 4 percent in the past 24 hours, per CoinMarketCap data.

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Image via CoinMarketCap
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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.

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