225 Million XRP Moved By Whales; Price Up By 6%

XRP news price rally

XRP News: XRP, Ripple’s native token price has jumped by around 6% as the crypto market saw a broad recovery on Wednesday. However, Ripple published a report about Real estate NFTs on the XRP ledger. This has led crypto whales to accumulate more XRP tokens amid the surge.

Are whales on an XRP accumulation spree?

According to data provided by WhaleAlert, crypto whales have moved more than 225 million XRP tokens on and off the crypto exchanges.

Whales accumulated more than 165 million XRP tokens in the last 24 hours amid the increased volatility in the crypto market. The total whale accumulation is valued at over $61 million.

However, the largest whale accumulation recorded by the tracker is valued at over $20.3 million from the Bitstamp crypto exchange. Meanwhile, these whales cumulatively have added more than 96 million XRP (approx worth $35.6 million) from the same exchange.

Earlier, Coingape reported that the crypto whale moved more than 351 million XRP amid the price dip.

As per the data, the largest of the whales moved around 60 million XRP (approx value $22.3 million) from the unknown wallet to the crypto exchange. This move suggests the whale is trying to book a profit here.

XRP price is up by 6% in the last 24 hours. It is trading at an average price of $0.37, at the press time. It is still holding a market cap of more than $18.9 billion despite facing legal challenges from the SEC.

Ripple to launch Real Estate NFTs

Ripple in a post announced that it has partnered with ProprHome which will leverage the XPR Ledger to create and distribute NFTs. These NFTs will represent property ownership.

The post 225 Million XRP Moved By Whales; Price Up By 6% appeared first on CoinGape.