XRP News Today: XRP Sees $10.6 Million Inflow Despite 0.4% Price Drop

XRP, the cryptocurrency associated with Ripple, experienced a notable inflow of $10.6 million over the past week, despite a slight dip in its price to $2.18. This price decline, which saw the token drop from $2.22 in the previous 24 hours, represents a 0.4% decrease in its daily value. The trading volume for XRP, however, surged by 47.30%, reaching $1,581,635,444. This increase in trading volume, coupled with the price drop, suggests that traders may be taking profits or adjusting their positions following an 8.1% gain over the past week.

Despite the price pullback, XRP's total market capitalization remains robust at $128.87 billion. The token has attracted significant inflows, with $21.2 million in month-to-date inflows and $219 million in year-to-date inflows. This sustained inflow of funds indicates continued interest from both institutional and retail investors, signaling longer-term confidence in the asset.

In a separate development, blockchain tracker Whale Alert reported that approximately 640 million XRP tokens were transferred across three transactions, valued at $703.5 million, $351.6 million, and $351.6 million respectively, totaling nearly $1.4 billion. These transfers, which were between unknown wallets, sparked speculation within the community. The first transfer involved 320 million XRP, followed by two transfers of 160 million each. Some users suggested that these movements could be related to whale accumulation or pre-scheduled releases.

XRP wallets tracking service identified SBI VC Trade, a crypto exchange operated by Ripple’s partner, as the origin of the 320 million XRP transfer. This movement took place in two transactions of 160 million XRP each. The tokens were moved from SBI VC Trade 4 to a wallet ending in -QjNRCZ. Community members noted the scale of the transfers but found reassurance in the traceable origin of the assets, reducing speculation about market manipulation or early escrow releases.

Ripple CEO Brad Garlinghouse recently reaffirmed his strong position on XRP’s long-term value. He responded “1000%” under a post on social media featuring an XRP tattoo he got in 2023. This comment was widely circulated within the community, though it did not specify any short-term price targets.