Whale Alert Reveals Massive XRP Transfers
Recently, Whale Alert, a crypto tracking platform, unveiled data revealing significant whale transfers involving the XRP token on November 14. This transfer caught the attention of crypto traders and investors, as it sparked a frenzy in the broader crypto markets shortly after.
Whale Transferring XRP To CEX
According to data revealed by Whale Alert, an unknown wallet transferred 24 million XRP to Bitstamp, a digital asset exchange. The tokens transferred amounted to $15.61 million as of writing. The transfer of coins to CEX possibly indicates a sell-off as the amount of tokens circulated surges. The same wallet has caught the eyes of many crypto enthusiasts as it has reshuffled colossal amounts of XRP to date.
Shortly after the whale transferred coins to Bitstamp, the price jumped 15%, showcasing an unusual outcome following the deposit of tokens to exchanges. This respective price surge was found to be linked to a fake spot XRP ETF backed by BlackRock, which appeared on the Delaware investment trusts registration website.
XRP Price Flux: Know Everything
The XRP price witnessed a marginal jump of 1.85% over the past twenty-four hours, reaching $0.6645. However, over the past seven days, the price plunged 3.99%, as per market charts. Furthermore, the trading volume saw a whopping 221.99% increase while writing.
The aforementioned price fluctuations seem to come in alignment with the recent announcement by Judge Torres, scheduling a remedies discovery and briefing in the Ripple lawsuit, along with Blackrock confirming that the token’s trust filing on Delaware’s investment trusts registration website was fraudulent.
Hot Take: XRP’s Whales and Market Impact
This latest revelation from Whale Alert demonstrates how large XRP transactions can have significant impacts on market prices and investor sentiment. It also highlights how external factors such as fake ETF filings can cause unexpected market movements. As an investor or trader in XRP, it is crucial to stay informed about these developments and consider their potential effects on your investment decisions.
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