XRP Whales Shift $210M as Ripple Expands with Mercy Corps Amid Market Adjustments

The XRP price has been bearish over the previous 24 hours after failing to break the barrier level at the intraday high of $1.14.

During this market adjustment, XRP Whales shifted more than 210 million tokens in two major trades.

XRP Whales Transfer More Than $210 Million in Two Transactions

Data from Whale Alert reported two massive XRP whale trades in the last 24 hours, totalling 210,930,712 tokens. In the initial transfer, 110,930,712 XRP (worth about $123.59 million) was sent from Binance to an unknown wallet. In the second, 100,000,000 XRP (worth $110.17 million) was transferred between two undisclosed wallets.

Large-scale movements of XRP tokens by whales frequently indicate purposeful repositioning before key market events. These transactions occur as the XRP market demonstrates bullish momentum despite a recent price adjustment. Analysts are keenly monitoring whale activity, which may indicate forthcoming market shifts.

The whale transactions coincide with growing talk about a potential collaboration between Ripple and Cardano. As a result, recent conversations between Ripple CTO David Schwartz and Cardano creator Charles Hoskinson have stoked speculation of cooperation.

🐋 $XRP Whales on the Move!

🚀 Over $210M in #XRP transferred as bullish momentum builds.

🔍 Rumors of a #Ripple–#Cardano partnership spark excitement for a potential breakout!

🤔 Could this be the next big move?#Crypto #XRPWhales #Bullishhttps://t.co/Ex07LsneaY

— NFT Monkey (@_nft_monkey_) November 20, 2024

XRP Whales Accumulate $526 Million in Tokens, Fueling Speculation of Major Price Movement

Meanwhile, XRP whales have quietly acquired $526 million in XRP tokens during the last week.

According to Armando Pantoja, a notable cryptocurrency specialist, these whales bought 453.3 million XRP tokens, the highest accumulation by huge investors in nearly three years.

This huge buy has sparked speculation in the cryptocurrency world about a possible large price shift for XRP. Pantoja initially stated that the acquisition equalled 18% of the XRP supply.

However, he later clarified that this statistic refers to the supply available on cryptocurrency exchanges rather than the overall supply of 100 billion tokens or the circulating supply of 56.9 billion tokens.

Despite this clarification, the size of the buy demonstrates the whales’ great belief in XRP’s future potential.

Ripple Labs Partners with Mercy Corps to Promote RLUSD in Developing Markets

Ripple Labs, Inc. is partnering with Mercy Corps to promote businesses in developing markets and encourage the adoption of their RLUSD stablecoin.

🚨BREAKING:

Ripple Labs To Boost RLUSD Adoption With Mercy Corps Partnershiphttps://t.co/UrVgwom7H6

— Alessandro Torres🇧🇷 🏆🌞🥇 (@Alessan14635878) November 20, 2024

In its most recent announcement, the corporation increased its cooperation with Mercy Corps through the “Unlocking Opportunity” programme. This project focuses on accelerating growth in emerging areas by assisting entrepreneurs and Small and Medium Enterprises (SMEs).

As previously stated, the company’s ambitions centre on assisting fintech and SMEs seeking solutions. The firm specifically identified those built on the XRP Ledger or using the RLUSD stablecoin. Ripple Labs stated that its preferred innovators include those trying to improve financial inclusion use cases such as savings, remittances, micropayments, and the tokenization of real-world assets.

The Unlocking Opportunities initiative is aimed at the global South. This programme will provide enterprises with grants of up to $100,000. In addition to using stablecoin to distribute humanitarian help, it intends to support businesses that rely on savings and payments.

With around $5.5 million contributed to Mercy Corps Ventures so far, Ripple stated that scalability remained its watchword. It believes this will strengthen the growing reach of the XRP Ledger and, eventually, the RLUSD Stablecoin.