XRP News: Ripple’s native token, XRP is riding on an upward trend backed by an anticipated win in the U.S. Securities and Exchange Commission (SEC) lawsuit. However, the latest development taking place on XRP Ledger (XRPL) is also motivating crypto whales to accumulate more XRP tokens.
XRPL’s Hooks Reason Behind XRP Whale Accumulation
Ripple in a tweet mentioned a new proposal on the XRPL named Hooks. It stated that Hooks is a proposal that will add smart contract like functionality to the XRP ledger. It will be a layer one custom code deployed in order to influence the behavior and flow of transactions.
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It added that Hooks are small yet efficient pieces of code defined on an XRPL account which will allow logic before and/or after XRPL transactions.
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As XRPL announced its new Hooks proposal, crypto whales seem to pick a pace in accumulating more XRP tokens. Data provided by WhaleAlert depicts that more than 146 million XRP (approx worth $77 million) have been added by whale addresses in multiple transactions in the last 24 hours. Read More XRP News Here…
However, the biggest accumulation transaction recorded by the tracker has been on adding 50 million XRP (approx worth $26 million) from the Crypto exchange CryptoCom. Adding on Crypto Whale have added $51.4 million worth of XRP from the CryptoCom only.
