Large XRP Transactions Draw Attention
If you’re a crypto enthusiast, you may have noticed the recent large transactions involving the XRP cryptocurrency. These transactions included over 59 million XRP tokens, with 38 million being sent to centralized exchanges from unknown wallets on November 9. Additionally, approximately 21 million XRP were transferred from a centralized exchange to an unknown wallet.
An Inside Look at Whale Transfers
According to Whale Alert data, around 16.30 million XRP tokens worth $11.16 million were transferred from an unknown wallet to Bitso, a Mexican-based digital asset exchange. Another significant transfer involved an unknown wallet sending 22.50 million XRP to the centralized exchange Bitstamp in Luxembourg City, Europe.
These transfers collectively indicate a total of 38.80 million XRP tokens being sent to exchanges, potentially leading to an increase in the number of tokens in circulation and impacting market sentiment.
XRP Price Surge
As of the latest update, the price of XRP has experienced a slight increase over the past twenty-four hours, reaching $0.6966 today. While there was a marginal surge over the day, the weekly surge saw an increase of almost 15.52%. However, trading volume decreased by 11.99%, reaching 1.96 billion today.
This surge aligns with Ripple Lab’s recent success against the US SEC and its involvement in global CBDC projects. Following this year’s dropping of charges against Ripple executives by the US SEC, the Ripple community has seen significant growth.
As a result, XRP’s price surged and briefly surpassed BNB by market cap. Currently, it remains one of the top five cryptocurrencies by market cap.
Hot Take: Ripple Community Progress
The recent large XRP transactions have drawn attention within the crypto community as speculation grows following Ripple’s advancements and successes.
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