Advertisement
AD

Main navigation

XRP Declines to $0.37 as Whales Move 440.3 Million Tokens

Advertisement
Thu, 12/05/2022 - 10:33
XRP Declines to $0.37 as Whales Move 440.3 Million Tokens
Cover image via stock.adobe.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News
Advertisement

While the sixth largest cryptocurrency, XRP, has seen a significant drop in price, large crypto investors have shifted 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%, following Bitcoin

XRP token has demonstrated a massive fall of nearly 30%, collapsing from $0.5154 to the current level of $0.3626, following the flagship cryptocurrency, Bitcoin, which slipped by over 16% since yesterday, touching the $26,300 low on the Bitstamp exchange.

Article image
Image via TradingView

By now, BTC has recovered roughly 5%, returning to the $27,600 level.

Advertisement

Ethereum has also been going down, 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.

Related

Whales shift 440 million XRP

The aforementioned crypto tracking platform, Whale Alert, stated that in the past 24 hours, nearly 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.

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD