Whales have moved around 450 million XRP between exchanges, while the price of the coin is down 29.5% within 24 hours.
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- XRP falls 29.5% after bitcoin
- Whale Moves 440 Million XRP
According to the Whale Alert crypto tracker, the sixth largest cryptocurrency, XRP has seen a huge price drop, but large crypto investors have moved almost half a billion of these Ripple-affiliated tokens between exchanges.
The largest lump of XRP sent was 300 million.
XRP falls 29.5% after bitcoin
Following the flagship cryptocurrency, Bitcoin, the XRP token exhibited a massive drop of nearly 30%, falling from the current low of $0.5154 to $0.3626, down more than 16% since yesterday, hitting a low of $26,300 on the Bitstamp exchange. level is reached.
So far, BTC has recovered around 5% and is back at the $27,600 level.
Ethereum is also trending lower, 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 algorithmic stablecoin, which fell below $0.5, losing its USD peg. The network’s native coin, LUNA, also fell brazenly – moving below $119 from its recent high of $119.28.
Whale Moves 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 largest trading platform, Binance, has moved a staggering 300,000,000 XRP internally. A total of 60 million XRP was also sent from Bittrex to Bitstamp.
300,000,000 #XRP (106,967,551 USD) transferred from #binance In unknown wallethttps://t.co/yeTmUMtze3
— Whale Alert (@whale_alert) 12 May 2022