Last Updated on 26 August 2023 by Admin
Amid the ongoing crypto winter, an unknown whale has made a huge transfer. For the last few weeks, the crypto market has been performing terribly. Almost all cryptocurrencies have seen record lows with no sign of recovery.
Few whales have utilized this opportunity to make gains by buying the dip. Usually investors wait for the price to hit the base so that they can make huge profits when the bulls weigh in. Yesterday, a whopping 425 million XRP was transferred to an unknown wallet.
All Eyes on SEC
The reason behind this massive transfer is unknown. But one thing is clear that the whale believes the price of XRP has hit rock bottom and wants to board the upcoming bullish rally. This isn’t the only transfer the whale made in recent times. Right from last month, the whale has been transferring millions of XRP tokens.
According to CMC, the price of XRP is $0.525 and is down by 0.52% in the last 24 hours. Moreover, the trading volume is also down by 44%. The last time XRP token saw a bullish rally was post the partial win judgment in SEC lawsuit. Ever since the price has been on a severe downward trend.
All eyes are on the impending SEC lawsuit. Any positive news can boost the XRP token price towards the $1 mark. However, any negative developments will trigger further losses.
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