Whale Alert, a renowned cryptocurrency tracking service, has just revealed some significant transfers of XRP coins. In a series of tweets, the tracking service disclosed that nearly 246.4 million XRP tokens, worth around $127.3 million, were transferred to an unknown wallet. Notably, these major XRP transfers were conducted from Bitvavo, one of the leading cryptocurrency exchanges in Europe.
While the exact reason behind these massive XRP withdrawals from the exchange remains undisclosed, this latest development has generated significant buzz among the XRP community. In recent times, the XRP crypto has shown a great deal of price volatility and these massive transactions add to the intrigue in the community.
XRP Price Movements
As of this writing, the current price of XRP is $0.516, which is up 2.23% in the last 24 hours. However, the XRP price still remains 16.65% down in the last 30 days, getting impacted by the recent bearish sentiment in the overall crypto market. Meanwhile, the trading volume of XRP has dipped by 21.05% in the last 24 hours, currently standing at $1,090,492,503.
Notably, data from Coinglass reveals that there were $1.53 million in liquidations for XRP in the last 24 hours, highlighting the impact of price volatility on XRP investors. The data further reveals that about $1.24 million out of the total were in long liquidations while almost $289.32K were in short liquidations.
Meanwhile, Coinglass data further reveals that the Open Interest (OI) in XRP has decreased by 0.95% during this time, currently standing at $482.71 million. This data suggests lowering market interest in XRP as well as decreasing interest of investors in XRP derivatives. It highlights the bearish sentiment that has surrounded XRP over the past few days as the XRP price continues to consolidate.
While the XRP price continues its sluggish movement in the market, these recent XRP withdrawals out of the Bitvavo exchange have caused speculation in the community. Notably, XRP remains one of the best crypto to buy now despite the recent bearish momentum. As the community awaits further developments and the overall narrative continues to evolve in the coming days, all eyes will remain on the price movements of XRP.
