3 hours ago
XRP is currently ranked fourth by 24-hour trading volume. These whale and escrow transactions contributed greatly to this. After a few days of silence in the XRP market, Whale Alert reported significant XRP escrow movements for February and listed multiple whale transactions involving Ripple and multiple unknown wallets. A total of 500 million XRP was unlocked from escrow, with 100 million XRP, valued at approximately $283.89 million, being released first, and another 400 million XRP, worth about $1.13 billion, unlocked from escrow shortly after. A few hours before these transactions, Ripple locked substantial amounts back into escrow. A total of 700 million XRP was locked back, with 430 million XRP, valued at $1.27 billion locked first, and 270 million XRP, worth approximately $796.96 million secured shortly after. Ripple unlocked 500 million XRP instead of its usual 1 billion XRP unlock. This mirrors escrow unlock errors from early 2024, which plagued the company’s escrow transactions for four months. However, Ripple often unlocks an additional 500 million later in the month to complete its escrow commitment. We are on twitter, follow us to connect with us :- @TimesTabloid1 — TimesTabloid (@TimesTabloid1) July 15, 2023 Whale Movements in the XRP Market Beyond escrow transactions, Whale Alert detected multiple large XRP transfers involving unknown wallets and Ripple. One of the largest movements involved 430 million XRP, valued at approximately $1.27 billion, transferred from an unknown wallet to Ripple. This was preceded by another major transfer of 200 million XRP, valued at $588.76 million. Ripple also received a transfer of 299.99 million XRP, worth around $882.64 million, and a transfer of 70 million XRP, worth approximately $206.5 million, from unknown wallets. These large inflows to Ripple suggest potential liquidity management or preparations for operational use. They might also involve some of Ripple’s many On-demand Liquidity (ODL) partners worldwide or similar institutional partners that utilize XRP. What’s Next for XRP? Approximately 2.2 billion XRP tokens moved in under 24 hours, drawing attention from the broader market to the XRP ecosystem. However, this has not helped the digital asset’s price, as a wider market downturn sent it below $3, pushing it to $2.51, its lowest level since mid-January. The digital asset has recovered slightly and is now trading at $2.58. Despite the decline, whales have been preparing for a big move since late 2024, and many market participants are still confident that a swift recovery is coming. Disclaimer : This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses. Follow us on Twitter , Facebook , Telegram , and Google News The post 2.2 Billion XRP In 24 Hours. Here’s What Happened Before XRP Crashes to $2.5 appeared first on Times Tabloid .
TimesTabloid
You can visit the page to read the article.
Source: TimesTabloid
Tags :
Cryptocurrency News Ripple XRP XRP Whale XRP Whales
Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of BitMaden. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.
Trump Pushes Ahead With Tariffs: States Anyone Against His Plan Is Controlled by China
President Donald Trump is moving forward with his administration’s plans to establish tariffs after facing heavy criticism due to the effects of the executive order signed recently. Trump accused everyone against tariffs of being controlled by foreign entities, including China. President Trump Propels Tariffs, States Critics Are Being Controlled The establishment of sweeping tariffs for TimesTabloid
XRP Slumped Below $2 as Ripple Whales Continue to Offload
TL:DR; Ripple’s cross-border token is taking the ongoing market crash quite severely, with its price dumping by over $1 within a day. Although it has bounced off to above $2 now, there’s a warning sign that suggests its run could have been halted, at least for now. XRPUSD. Source: TradingView The chart above paints a highly painful picture. XRP neared its all-time high on January 17 and peaked at $3.39, which was just 1% away from the 2018 record. Although it failed there, it mostly maintained its valuation above $3 for the next couple of weeks. That all changed on Sunday morning when it dumped from $3.07 to $2.7 at first before it took another beating to $2.5. Nevertheless, it jumped back 10% before the Monday morning massacre brought back the pain. Within hours, Ripple’s token plunged from $2.7 to under $1.8 (on Bitstamp), which became its lowest price level since late November when Gary Gensler announced his departure from the SEC. XRP has managed to recover some of the losses, at least for now, and sits above $2.2 as of press time. Yet, this is still a 24% daily drop, which has driven its market capitalization to well below $130 billion. Consequently, USDT, with a market cap of $140 billion, has once again surpassed XRP as the third-largest crypto asset. What’s even more worrying for XRP is the fact that whales have reversed their strategy. As reported yesterday, these large market participants had offloaded over 70 million XRP in 96 hours. However, further data from Ali Martinez shows that they have continued to sell off their tokens by dumping another 130 million in a day over the weekend. Whales play a significant role in the crypto market due to their ability to buy or sell substantial portions of an asset. They went on a massive buying spree ahead and during XRP’s rally but seem to have changed their tune, which could spell even more trouble for the asset. Whales have offloaded over 130 million $XRP in the past 24 hours! pic.twitter.com/s43x7Rviba — Ali (@ali_charts) February 2, 2025 The post XRP Slumped Below $2 as Ripple Whales Continue to Offload appeared first on CryptoPotato . TimesTabloid
