The Price of the Ripple Token (XRP) is Undergoing a “Healthy Correction,” and Many Whale Movements Have Been Observed Once More

The price of the Ripple token (XRP) is undergoing a “healthy correction,” as we previously reported, and many whale movements have been observed once more.

The price of the Ripple token (XRP) is undergoing a “healthy correction,” as we previously reported, and many whale movements have been observed once more.

Whale Alert revealed that, amid the selling pressure on XRP, there was a big whale action in which 26,287,782 XRP tokens worth $15.30 million were transferred from a Binance wallet to an unknown wallet.

🚨 26,287,782 #XRP (15,302,570 USD) transferred from #Binance to unknown wallethttps://t.co/HHNdGSr4TY

— Whale Alert (@whale_alert) July 18, 2024

Receiver Wallet Transfers XRP to Multiple Exchanges

Interestingly, after this transaction, the receiving wallet, identified as rhWj9g, transferred some of its XRP tokens to multiple exchange wallets, including MXC, Coinspot, Upbit, Coinbase, Kraken, Gopax, and others.

The initial purpose of withdrawing tokens from the Binance wallet has yet to be established. However, shifting assets to exchange wallets typically indicates an attempt to liquidate assets. Alternatively, it could signify a giveaway action.

Previously, CNF reported that some XRP whales had dramatically raised their token holdings as the price attempted to rise above $0.53. The Ripple vs. SEC case is nearing completion, with lawyers forecasting a variety of fines and results that might affect XRP.

Furthermore, we previously highlighted a prophet who claimed to have received a divine word forecasting that XRP’s price would eventually reach $10,000 per token. This prophet had previously prophesied an assassination attempt on Trump, which has aroused the crypto community about this new prediction.

At the time of writing, XRP is trading around $0.5808, down 6.26% over the last 24 hours. This fall corresponds to a small correction in the major cryptocurrency markets.

Also, Ripple’s continuing initiatives, partnerships, and technological improvements continue to garner headlines, as the company remains a key participant in the blockchain industry, working to improve cross-border payment solutions around the world.