Whale Crypto Nyerok 100 Million XRP When The Price Drops

XRP crypto assets are targeted by whales. (Photo; Doc. FactsNet)

JAKARTA - Big investor activity or "whale" in the XRP market is again in the spotlight of the crypto community. Whales took advantage of the declining moment of the XRP price which had fallen below 2 US dollars (Rp 32,000) to buy more than 100 million tokens. This purchase took place when the crypto market was volatile with the falling Bitcoin price from its new all-time high (ATH) a few days ago.

In the past month, more than 2.66 billion XRPs have been transferred to Binance. According to the CryptoQuant analysis platform, this number has become the largest inflow to the stock exchange since April 2024. The increasing interest in whales in XRP shows intense activity of XRP holders who use Binance as their main platform.

After the massive buying and selling, the price of XRP has recovered and is now trading at around $2.42 (Rp38,720) according to CoinMarketCap data, Thursday 12 December. The increase in XRP prices recorded an increase of about 10 percent in the past day. XRP began to recover following announcement from Ripple CEO Brad Garlinghouse regarding the new Ripple stablecoin approved by regulators.

Brad Garlinghouse, CEO of Ripple Labs, announced the approval from the New York Department of Financial Services (NYDFS) via social media uploads on December 11.

The RLUSD stablecoin, which was first introduced in April 2023, is designed to be the first regulated stablecoin and as a means of Ripple's cross-border payment system.

RLUSD will compete with other stablecoins such as Tether's USDT and Circle's USDC. Not only that, CryptoPotato reports that Garlinghouse has also revealed that Ripple will soon announce a list of RLUSD exchanges and cooperation partners.