XRP price is rallying while the value of top 10 cryptos plummet.
Ripple (XRP) has surprised many investors over the last 24 hours as the asset class records the largest gains among the top 10 cryptocurrencies by market capitalization.
XRP is up 8% in the last 24 hours after it was reported that an unknown whale purchased a whopping $500 million worth of XRP yesterday. The development was shared by CryptoVinco, a cryptocurrency data provider that covers market updates about top cryptos, especially Ripple.
Following the massive purchase, XRP soared from a 24-hour low of $0.324 to $0.357. Although XRP has slightly dipped and is currently changing hands at around $0.348, the digital currency still remains the best performing cryptocurrency among the 10 largest cryptos by market cap.
According to CryptoVinco, XRP appears to be decoupling from the entire crypto market, as the asset’s price is up while others continue to decline.
“$XRP seems to be decoupling from the rest of the crypto markets, a mega-whale purchased over $500 million #XRP yesterday while other coins tanked. Do they know something we don’t?,” CryptoVinco tweeted.
$XRP seems to be decoupling from the rest of the crypto markets, a mega-whale purchased over $500 million #XRP yesterday while other coins tanked.
Do they know something we don’t? 🚀 pic.twitter.com/uPFRIVh93S
— CryptoVinco (@CryptoVinco) September 17, 2022