An Unknown Wallet Transfers 50 Million XRP Tokens to Bitstamp and Bitso
An unidentified wallet recently made a significant transfer of 50 million XRP tokens to centralized exchanges Bitstamp and Bitso, catching the attention of investors and traders. The wallet initiated multiple transactions, moving approximately $15.42 million worth of XRP tokens to both exchanges. These large transfers to centralized exchanges often indicate an upcoming sell-off.
Although XRP’s price experienced a slight decline of 1.25% on November 4th, it has seen an overall increase of almost 11.5% over the past week, reaching $0.611399. The altcoin reached a local peak of $0.62 on November 3rd. In the last month, XRP has gained 17.3%, reflecting the optimistic sentiment among retail crypto traders.
Hot Take: XRP Transfers Raise Concerns About Potential Sell-Off
The recent transfer of a substantial amount of XRP tokens to centralized exchanges has raised concerns among investors and traders about a potential sell-off in the near future. Large transfers like this often precede significant market movements.
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