Ripple Whale Transfers $25M in XRP Amidst Market Fluctuations
A large Ripple whale recently moved approximately $25.93 million worth of XRP to Bitso and Bitstamp, two exchanges closely associated with Ripple. The transfer occurred in two separate batches, with 17.1 million XRP sent to Bitso and 23.3 million XRP sent to Bitstamp. This significant movement of funds took place amidst market fluctuations due to false news about an XRP ETF filing, which initially caused a 12% drop in XRP’s value followed by a 7% rebound.
The wallet responsible for this transfer is known for frequently moving large amounts of XRP, possibly related to Ripple Labs’ operations. Additionally, data from Whale Alert also shows other anonymous wallets moving substantial amounts of XRP, with one notable transfer of 20 million XRP to Bitvavo.
Significant Whale Activity in the XRP Market
Whale Alert data indicates that anonymous wallets have been involved in moving large amounts of XRP over the past 48 hours, including purchases, sales, and transfers to cold wallets. Another major whale transferred around 20 million XRP to Bitvavo, which has seen significant transactions involving trillions of Shiba Inu tokens.
These whale transactions suggest that the market is undergoing preparation for potential price movements, prompting analysts to closely monitor the charts. In fact, some analysts have observed chart patterns that resemble previous surges in XRP’s value, indicating the possibility of a significant increase in the cryptocurrency’s value.
Hot Take: Ripple Whale Moves Millions Amidst Market Volatility
In summary, a large Ripple whale recently transferred approximately $25.93 million worth of XRP amidst market fluctuations caused by false news about an ETF filing. This significant movement of funds underscores the impact that whale activity can have on cryptocurrency markets and highlights the need for careful monitoring of such transactions.
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