Unfortunately, crypto investors did not get the sign they expected from the Fed. Therefore, there was a selling pressure in the market. This environment allowed whales to add more Ripple (XRP) tokens to their wallets. Additionally, deep-pocketed investors added $10 million worth of Shiba Inu (SHIB) tokens to their stash in the last 6 days.
Whales collect XRP as prices fall!
Koindeks.com As you follow, Ripple (XRP) has had a great rally over the past month. Ripple’s precious gains in its case with the SEC likely played a role in the background to this rally. However, with the increasing selling pressure in the market, XRP started to decline. Taking advantage of the price drop, the whales took action and filled their wallets with XRP.
According to whale watching platform Whale Alert, whales have received 129 million XRP tokens (about $59.56 million) in the last 24 hours. In addition, the platform, which also monitors token movements, has detected some valuable transfers. Accordingly, whales have carried more than 198 million XRP tokens in the last 24 hours. In addition, the information shows that more than $31 million in XRP has been moved to Binance. However, the largest transaction Whale Alert recorded was 60.92 million XRP transfers. A whale wallet moved $28.4 million worth of XRP from Bitstamp to its wallet.
Whales also moved over 67.5 million XRP tokens from the FTX crypto platform to Binance. According to experts, this move may have been made due to the expectation of further price increases. In the middle, the XRP price has dropped more than 3.5% in the last 7 days. For now, its price is about to be stuck in the $0.45 price range. The altcoin is changing hands at an average of $0.4508 at press time.
Whale wallets have these besides SHIB
Another whale watching platform, WhaleStats, shared its activity on the well-known breast coin of whales, Shiba Inu (SHIB). Accordingly, the top 100 Ethereum whales have increased their SHIB status by around $10 million since the end of October. Whales currently hold 8.21 trillion SHIB, equivalent to about $100 million. The chest coin currently holds a 4% stake in the portfolio of Ethereum whales. Ahead of SHIB is Lido Staked ETH (stETH) and Wrapped Bitcoin (WBTC), apart from stablecoins and ETH.
In the middle, the DOGE narrative played an important role in the SHIB price pump that began on October 28. During this period, SHIB quotes rose more than 40%. But today, after a sales wave, it lost a third of that increase. However, according to the process history of whales, recent SHIB price behavior and whale movements did not become contiguous events as in previous cases.