XRP price movement amid whales moving 158.71 million in minutes

By:
on Oct 27, 2022
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  • XRP whales have moved more than 158.71 million tokens within minutes.
  • The largest transaction is worth more than $32.63 million, with over 68 million XRP tokens moved.
  • XRP’s value has increased by 9% in the last week, indicating interest in the cryptocurrency.

Whales that held the XRP cryptocurrency have moved more than 158.71 million tokens within the span of just three transactions.

XRP (XRP/USD) is essentially the native cryptocurrency that is used by the open-sourced distributed ledger XRP Ledger (XRPL), powered by a network of peer-to-peer (P2P) servers.

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XRP, as a cryptocurrency, is built to power innovative technology within the payments service space and has improved utility over legacy payment options. 

XRP whale movement as a catalyst for growth

When we look at the latest crypto news, it is clear that there is a lot of XRP whale movement within the crypto space. Whale Alert reported some of these transactions.

One transaction included 30,000,000 XRP, worth $14.2 million, and was transferred from an unknown wallet to the Mexico-based cryptocurrency exchange known as Bitso.

Another transaction, including 60,000,000 XRP, worth around $28.4 million, was sent from an anonymous wallet to the Luxembourg-based cryptocurrency exchange Bitstamp.

There were numerous other large transactions recorded. However, this resulted in over 158.71 million XRP being moved within the span of minutes. 

Should you buy XRP (XRP)?

On October 27, 2022, XRP (XRP) had a value of $0.47177.

XRP/USD Chart by Tradingview.

The all-time high of the XRP (XRP) cryptocurrency was on January 7, 2018, when it reached a value of $3.40. Here we can see that the cryptocurrency, at its ATH, was trading $2.92823 higher in value, or by 620%.

When we go over its 7-day performance, XRP (XRP) saw its low point at $0.437909, while its high point was at $0.476273. Here we can see an increase of $0.038364 or by 9%.

When we take a look at how the cryptocurrency performed in the last 24 hours, its low point was at $0.461178, while its high point was at $0.477884. Here we can see an increase in its value by $0.016706 or by 3%.

With this in mind, investors can find appeal in buying XRP as it can climb to $0.6 by the end of October 2022.