Sunday, June 15, 2025
LBNN
  • Business
  • Markets
  • Politics
  • Crypto
  • Finance
  • Energy
  • Technology
  • Taxes
  • Creator Economy
  • Wealth Management
  • Documentaries
No Result
View All Result
LBNN

52 Million XRP On The Move as Price Falls

Simon Osuji by Simon Osuji
November 18, 2023
in Business
0
Ripple Has 90% Chance to Win SEC Lawsuit Says John Deaton
0
SHARES
2
VIEWS
Share on FacebookShare on Twitter

Despite the overall positive sentiment surrounding the company, Ripple has seen 52 million XRP tokens sold in large transactions as the price fell. Specifically, the digital asset observed a price drop of 5.11% as two massive transactions were recognized by Whale Alert.

The transactions saw large sums of XRP move from an anonymous wallet to two major exchanges, Bitstamp and Bitso. Indeed, the transfer was likely made with the intent of selling the assets. However, because of the fall in price, the XRP being transferred was likely sold at a loss.

ripple xrp cryptocurrency coin token
Source: cryptonews.com

Also Read: Ripple (XRP) Could Rally 480% and Reach $3.80

Ripple (XRP) Price Drops 5% Amid Massive Whale Activity

Over the last three months, Ripple has seemingly been unable to avoid positive momentum. Following its victory in a key legal battle against the US Securities and Exchange Commission (SEC), its XRP token has been on an upward trajectory. However, a price correction seemed to have snuck up on the entire market amid a stark decline in price.

Specifically, Ripple has seen 52 million XRP on the move as its price has declined. The transactions in question saw an anonymous wallet send the digital asset to two crypto exchanges. Subsequently, the massive transactions were likely transferred to sell, which would result in a loss for the original holder.

Also Read: Ripple (XRP) Market Cap Could Reach $50 Billion in November

The original report noted that the massive collection of XRP was worth $31.7 million. However, while the transactions occurred, the price of the asset fell from $0.0651 to $0.616—a massive drop of more than 5%. Moreover, the fall followed a similar drop earlier this week. Specifically, the asset fell 12% after a false report regarding a BlackRock XRP ETF.

Alternatively, Bithomp delved deeper into the transaction and noted it was likely not a transfer with intent to sell. Conversely, they noted the wallet was linked to Ripple and was transferred to add fiat to the company’s balance sheet. Therefore, the transfer is reported to have occurred to support the liquidity of Ripple Payments, the company’s previously known on-demand liquidity.

Related posts

African countries’ response to the escalating Iran-Israel conflict

African countries’ response to the escalating Iran-Israel conflict

June 15, 2025
Egypt stands as the African country suffering the most from Iran’s and Israel’s missile strikes

Egypt stands as the African country suffering the most from Iran’s and Israel’s missile strikes

June 15, 2025

Source link

Previous Post

TC+ Roundup: Just say no to triaging

Next Post

16 Walmart Black Friday Deals (2023): TVs, Cookware

Next Post
11 Walmart Early Black Friday Deals (2023): TVs, Smartwatches, Cookware.

16 Walmart Black Friday Deals (2023): TVs, Cookware

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

These Companies Have a Plan to Kill Apps

These Companies Have a Plan to Kill Apps

1 year ago
WFP earmarks $2.5b to fight hunger, malnutrition in Nigeria – EnviroNews

WFP earmarks $2.5b to fight hunger, malnutrition in Nigeria – EnviroNews

4 months ago
BAE Tests Counter-Drone Variant of Armored Multi-Purpose Vehicle

BAE Tests Counter-Drone Variant of Armored Multi-Purpose Vehicle

1 year ago
Maintaining law and order a key part of Solidarity’s plan for SA’s economic recovery

Maintaining law and order a key part of Solidarity’s plan for SA’s economic recovery

11 months ago

POPULAR NEWS

  • Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    Ghana to build three oil refineries, five petrochemical plants in energy sector overhaul

    0 shares
    Share 0 Tweet 0
  • When Will SHIB Reach $1? Here’s What ChatGPT Says

    0 shares
    Share 0 Tweet 0
  • Matthew Slater, son of Jackson State great, happy to see HBCUs back at the forefront

    0 shares
    Share 0 Tweet 0
  • Dolly Varden Focuses on Adding Ounces the Remainder of 2023

    0 shares
    Share 0 Tweet 0
  • US Dollar Might Fall To 96-97 Range in March 2024

    0 shares
    Share 0 Tweet 0
  • Privacy Policy
  • Contact

© 2023 LBNN - All rights reserved.

No Result
View All Result
  • Home
  • Business
  • Politics
  • Markets
  • Crypto
  • Economics
    • Manufacturing
    • Real Estate
    • Infrastructure
  • Finance
  • Energy
  • Creator Economy
  • Wealth Management
  • Taxes
  • Telecoms
  • Military & Defense
  • Careers
  • Technology
  • Artificial Intelligence
  • Investigative journalism
  • Art & Culture
  • Documentaries
  • Quizzes
    • Enneagram quiz
  • Newsletters
    • LBNN Newsletter
    • Divergent Capitalist

© 2023 LBNN - All rights reserved.