Ripple's native token XRP is seen on an upward trend supported by an expected victory in a U.S. Securities and Exchange Commission (SEC) lawsuit. However, the recent developments that took place on the XRP Ledger (XRPL) also motivated the crypto Whale to collect more XRP tokens.
Ripple in a tweet mentioned a new proposal on XRPL called Hooks. It states that Hooks is a proposal that will add smart contract-like functionality to the XRP ledger. It will be layer one custom code used to influence transaction behavior and flow.
It adds that Hooks are small but efficient pieces of code on an XRPL account that will allow logic before and/or after an XRPL transaction.
When XRPL announced its new Hooks proposal, crypto Whales seemed to take a step in collecting more XRP tokens. Data provided by WhaleAlert shows that more than 146 million XRP (worth approximately $77 million) has been added by Whales addresses in multiple transactions in the past 24 hours.
However, the largest pooling transaction recorded by the tracker was adding 50 million XRP (approximately $26 million worth) from crypto exchange CryptoCom. On the other hand Crypto Whale has added $51.4 million worth of XRP from CryptoCom alone. However, crypto Whales added 23.4 million XRP (worth approximately $12.1 million) from crypto exchange Binance.
