Ripple's native token XRP is making a move as whales are spotted moving millions of XRP tokens over the past 24 hours, but the movement of whales presents multiple scenarios for the token.
According to Whale Alert, the largest wallet managed to transfer more than 240 million XRP to the crypto exchange and the valuation of the token is around $80 million.
Not only that, it is said that 110 million XRP tokens worth $36.55 million were sent to Bitstamp crypto exchange, while 130 million XRP tokens worth $43.16 million were transferred by an unknown wallet to Bitso exchange.
It is also understood that 300 million XRP tokens have been transferred from unknown wallets to different sources including the total valuation of these tokens amounting to around $100 million.
Despite this, the transfer of tokens that took place on crypto exchange platforms showed that XRP whales may sell them for profit, and whales even generated an additional 132.9 million XRP tokens worth $44.2 million in various transactions.
Also recorded the largest transaction was $22.26 million bought from crypto exchange Bitso.
Meanwhile, as the global crypto market recorded a slight recovery on Thursday, the XRP token also gained some momentum, but the token's price gains were hampered by the ongoing SEC Vs Ripple lawsuit issue.
As of the writing of this article, the value of the XRP crypto has risen to around $0.3500.
