XRP Price Dump? Whales Move Millions Of XRP

Since cryptocurrency whales were discovered unloading XRP tokens for $46,701,127, the price of XRP has fallen sharply.

XRP is gradually losing its momentum in the midst of the crypto winter and the Ripple litigation controversy. The most recent whale research, however, shows that whales are prepared to mate. According to Whale Alert, numerous accounts sent 68 million XRP tokens, or roughly $27 million, to cryptocurrency exchanges like Bitso and Bitstamp.

Drop in XRP price: Buy or Sell signal?

According to information from WhaleAlert, nearly 370 million XRP tokens worth more than $147 million were traded by cryptocurrency whales over the course of the last day. The tracker's single largest transaction was the transfer of 252 million XRP (about worth $101 million) to an unidentified wallet.

XRP is currently trading at $0.4056 at the time of writing. The price of XRP has decreased over the past week by about 5%. While its $1.07 billion 24 hour trading volume has decreased by more than 2%.

Battle has not yet been won.

Worryingly, if the $0.40 resistance level continues to act as a barrier to the coin's upward movement on the daily chart, crypto investors may decide to sell. Who will be present to celebrate Ripple's win?

Will Ripple successfully make a comeback?

Investors in cryptocurrencies are anxiously awaiting the court's summary judgement decision in the ongoing litigation. However, until the court makes a ruling, nothing is "Worth waiting" for. The XRP price is numb and impatiently awaiting the conclusion of the Ripple v. SEC lawsuit. On the other side, a lot of investors are in a pickle, and eventually, supporters might lose patience.

The proverb "Patience is bitter, but its fruit is delicious" is sometimes untrue because the future of XRP is hazy, so that delayed results could be useless.