The crypto bulls seem to have slowed down a little, but that doesn’t mean the market is getting dormant. In fact, dormant crypto whales who haven’t made a move for a long time are now stirring back to life. The latest whales are XRP whales, and they’ve been moving quite a huge amount of it.
At the time of this writing, about 484.7 million XRP worth at over $131 million was moved from an unknown to another yet unknown wallet.
The transaction took place within the ledger at 5:39 (UTC), August 24, 2019. Interestingly, the transaction fee totaled just 0.01 XRP and used 10,000 drops. That was followed by two more transactions of 49.8 million XRP and 50.1 million XRP valued at $13.915 million and $13.967 million respectively.
Something Brewing?
Like most of the other Altcoins, the XRP market hasn’t been very hectic of late especially in terms of price action. In fact, a lot of Altcoins have experienced a shift to the red zone, albeit in small percentages. Still, the abrupt re-emergence of muscled XRP whales from long periods of dormancy has people speculating that something might be in the horizons.
For one, there have lots of talks about an impending Altcoin season after the crypto winter ended a few months ago. Whether that’s true is something to be waited upon in the coming months.
XRP Market Standings
At the moment, XRP stands at number 3 in the charts with a total market cap of $11.6 billion and priced at around $0.27. The daily trading volume stands at around $983.5 million.
At the time of this writing, XRP 24-hour change, according to data on CoinMarketCap, shows a -2% decline and in the red. However, it won’t be surprising if the whale activity helps change things in the coming hours.
