XRP, the cryptocurrency linked to Ripple, saw a notable price surge today amidst a frenzy of large transactions by crypto whales. Over 91 million XRP tokens were moved between wallets and exchanges, catching the eyes of investors worldwide.
The flurry of whale activity and positive price action comes on the heels of a cryptic announcement from former Ripple executive Sean McBride hinting at major upcoming news for XRP. Many speculate the token’s gains may also be fueled by Ripple’s strategic legal moves in its lawsuit with the SEC.
In a detailed breakdown, blockchain trackers revealed three key whale transfers totaling over 91 million XRP worth upwards of $46 million. One unknown wallet dumped 51 million XRP to exchanges Bitstamp and Bitso, while a separate wallet scooped up 40 million XRP from Bybit. The shuffling of such significant XRP bags by whales typically signals shifting tides.
Despite large sell-offs, XRP price climbed over 2% today to reach $0.51 per token. The asset’s market cap also grew by over 2% and trading volume spiked nearly 19% in the past 24 hours. Options data signals increased speculative interest as well.
Looking ahead, crypto enthusiasts eagerly anticipate revelations from McBride that could impact XRP’s trajectory. But the token’s fate likely hinges most on the outcome of Ripple’s high-stakes legal battle with regulators. Either way, the recent flurry of activity demonstrates that XRP remains a headline crypto to watch.
