The global crypto market is still trading under immense selling pressure due to increased volatility due to the recent FTX and other platform collapses. Top cryptos like Bitcoin (BTC) and Ethereum (ETH) prices struggled to surge. However, XRP price managed to spike amid the current market sentiments.

According to the WhaleAlert, whales have moved more than 160 million XRP tokens in the last 24 hours. These transactions come as the Ripple vs SEC lawsuit moves toward the Summary Judgment.

Whales accumulated over $19 million worth of XRP tokens from the Bitso crypto exchange. As per the data, the largest transaction recorded by the tracker has been of adding 40 million XRP (approx worth $15.3 million).

However, the tracker reported that an account named Ripple moved 50 million XRP (approx worth $19.2 million) to an unknown wallet.

XRP price has surged by over 2% in the last 24 hours. It is trading at an average price of $0.385, at the press time. Its 24 hour trading volume stands at $736 million. It is still the 7th largest crypto with a market cap of $19.3 billion.