- The transaction’s value stood at about $56 million
- The remittance coin gained around 5% within the past 24 hours.
Negative sentiment, sharp volatility surge, and selling pressure are among the challenges XRP encountered within the past four weeks. Though the market-wide correction led to massive drops by leading crypto assets, XRP fought to retain its place among the top ten crypto-list.
Ripple millionaires (addressed with more than two million tokens) enhanced their actions during the 2022 bearish trend in the crypto world. Data by a renowned blockchain tracking and cryptocurrency analytic platform Whale Alert revealed a transfer worth nearly $56 million. The transaction involved the movement of about 90 million Ripple tokens from a crypto address to Bithumb, a trading exchange.
The address executed this transaction on January 26 around 6:10 UTC. Moreover, Bithomp.com recorded the transfer that represented one among the highest on-chain activity of XRP within the last three days. On Tuesday, a cryptocurrency whale sent 20 million Ripple tokens worth over $12 million to an unfamiliar wallet from Bithumb.
XRP suffered massive plummets in 2022’s first three weeks like other assets in the crypto market. However, cross-border crypto saw a nearly 5% jump since yesterday. Nevertheless, XRP lost 16% within the last seven days. That is somewhat lucrative compared to Solana’s 20% and an almost 26% drop by Cardano.
Ripple Cryptocurrency Report
Ripple team published a crypto report on Monday, highlighting the current global market state and increasing popularity of NFTs, CBDCs, and blockchain technology. It commented on the impressive growth of non-fungible tokens in 2021, stating that the innovation indicated another blockchain application.
Ripple’s report also revealed that the crypto market saw steady growth, and conversation surrounding new crypto uses cases and blockchain benefits matured. CBDCs, deep regulator concerns, and wide crypto acceptance by traditional institutions signaled the continued blockchain technology interest.
While publishing this content, XRP ranked 8th in the Coinmarketcap crypto-list, exchanging hands around $0.6313. Meanwhile, the top ten digital coins saw price surges over the past day. However, increased volumes remain essential to alter the dominant bearish trend.
Stay tuned for more cryptocurrency updates.