📉 XRP Whales Dump 46 Mln Tokens, Is Nosedive To $0.55 Inevitable? 🚨💔

The XRP market is in turmoil as massive selloffs by whales and Ripple, the parent company, trigger a sharp decline below the $0.57 level. 📉 What's driving this nosedive, and could $0.55 be the next target? Let's unravel the latest developments.

1. XRP Whales Unleash: 46 Million Tokens Sent to Exchanges! 🐋💨

In a startling move, XRP whales orchestrated two major transactions, offloading a staggering 46 million tokens onto exchanges. The first transfer saw 26.1 million XRP worth $14.92 million moved to Bitstamp, while the second involved a transfer of 20.1 million XRP worth $11.48 million to Bitso. A total XRP whale dump valued at $26.4 million is raising concerns of further price declines.

2. Ripple's Significant Selloff: 80 Million XRP Tokens Moved! 💼💸

Adding to the woes, Ripple initiated a substantial selloff, transferring 80 million XRP tokens to an undisclosed wallet. This move, equivalent to two-thirds of the company's XRP reserves, amounted to over $46 million. Ripple's action played a crucial role in exacerbating the ongoing nosedive.

💡 Insight: Ripple's selloff and whale transactions could be catalysts for the continued decline in XRP price.

3. XRP Price Update: Plummeting Below $0.57! 📉💔

Following these transactions, the XRP price extended its descent, falling below the $0.57 mark. As of now, XRP is trading at $0.5667, marking a 0.73% decline on Thursday, January 18. The market cap stands at $30.83 billion. The 24-hour trade volume saw a slight increase, reaching $910.79 million.

📈 Market Insights: Despite last week's gains, XRP is now 85.23% lower than its all-time high of $3.84.

🚀 What's Next for XRP? Stay Informed with The Defidraft! 🌐💡

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