A new report has revealed that a substantial amount of XRP, to the tune of 520 million coins have been shifted in the last 72 hours. This began shortly after the price of XRP crashed significantly below $2 earlier this week.
The latest whale movement sparked discussions within the XRP community as members emphasized the timing, speculating about possible market manipulation. Notably, XRP’s price has rebounded, currently trading around $2.5, with a 5% increase over the last day.
Also Read: Big News For XRP: Ripple Integrates Into Major Payment System, Details
Whales Scoop $1.2 Billion Worth of XRP
Ali Martinez, popularly known as Ali Charts on X, disclosed that during the market downturn, smart investors took advantage, amassing over half a billion XRP coins to position themselves ahead of a market recovery.
Whales seized the opportunity during the recent dip, buying 520 million $XRP! pic.twitter.com/v2Lu4uBMgm
— Ali (@ali_charts) February 6, 2025
At the current price, the total XRP moved amounted to about $1.26 billion. This enormous acquisition increased the buying pressure on the coin, which could be one of the factors behind the recent improvement in the last 24 hours.
While these whales make their move, market observers have raised concerns about a possible price manipulation tactic by large holders. In a previous post, 36crypto reported a complaint raised by Traderview, a prominent member of the XRP community.
According to him, the recent XRP crash was manipulated by market makers to ensure that they execute buy orders at discounted prices. He pointed out that during the market plunge, the Binance perpetual contracts order book displayed unusual behavior.
During that time, large buy orders were executed at key levels where they anticipated the price of XRP would fall. This revelation created a wave of backlash and arguments across the XRP community.
Whale Dumps 32 Million XRP
While certain whales are busy accumulating XRP, others are offloading large portions of their holding to centralized exchanges. According to a recent report by Whale Alert, an anonymous whale shifted a staggering 32 million XRP coins to the Bitstamp exchange.
At the time of the transaction, it was worth $77.6 million. However, upon further check, it was revealed that the sending wallet was closely tied to one of the largest crypto exchanges in the United States, BitGo.
Ultimately, while some investors see the current market decline as strategic positioning for a rebound, concerns remain over large holders influencing market movements to their advantage.
Also Read: Flare to Unlock $134B XRP Yield—Here’s What It Means for Holders
