Crypto Whales Move $131M in XRP Despite Market Dip

• The crypto market has declined over the past 24 hours, with the cumulative market cap now around $812.00 billion.
• According to WhaleAlert, crypto whales have transferred 385 million XRP, worth almost $131 million, to different crypto exchanges.
• One unknown crypto whale is reported to have purchased up to 35.1 million XRP tokens, worth $11.8 million, through the Bitso exchange.

The entire crypto market has not been faring too well in recent times, with the cumulative market cap dropping to around $812.00 billion. This represents a decrease of 0.88% in the market over the past 24 hours.

One of the assets that has been particularly affected is XRP. Although the asset has been trying to regain its value, there have been large transfers of XRP tokens to different crypto exchanges. According to WhaleAlert, an on-chain data provider, large crypto whales have transferred 385 million XRP to crypto exchanges within the last 24 hours. This amounts to almost $131 million in the current market prices.

The largest single transaction was for 70 million XRP tokens, worth about $25.6 million. Most of the transfers were to Bitstamp, costing $10.1 million. Furthermore, one of the whales moved XRP tokens worth about $11.8 million to the Bitso crypto exchange.

Perhaps the most interesting activity was from an unnamed crypto whale who purchased up to 35.1 million XRP tokens. This occurred during the current XRP price dip and was done through the Bitso exchange. As a result, the whale accumulated Ripple tokens worth about $11.8 million.

It is clear that despite the current bearish market trend, crypto whales are still very interested in XRP. Whether this will result in a price increase for the asset in the short-term remains to be seen.