XRP Whale Transfers: A Detailed Report
If you’ve been following the XRP price fluctuations, you’d know that a series of significant whale transactions have recently occurred. These transactions involved around 150 million XRP tokens being shuffled around by crypto whales. This activity has caught the attention of both crypto traders and investors, as it indicates significant changes in the market sentiment surrounding XRP.
According to recent data from Whale Alert, a blockchain tracking platform, approximately 24.70 million XRP was transferred from an unknown wallet to Bitso, a digital asset exchange based in Mexico. Additionally, the same wallet transferred 23.40 million XRP to Bitstamp, another centralized exchange located in Luxembourg City. These large transactions to exchanges may suggest an increase in supply, which could potentially push the market sentiment towards bearish.
However, there’s another transaction that has sparked speculation among crypto enthusiasts. An unknown wallet sent a whopping 100 million XRP to another unknown wallet. This movement of tokens between unknown wallets indicates that the market sentiment might be turning bullish for the token.
XRP Price Plunges Amid Ripple IPO Speculations
The XRP price has witnessed a marginal downfall of 6.68%, reaching $0.6503 as of today. The market cap also experienced a decrease of 6.56%, reaching $34.87 billion. Despite this recent dip, the price surged by approximately 8% in the last seven days and increased over 30% over the last 30 days.
It’s worth noting that Ripple recently concluded its Swell conference in Dubai without making any announcement about an IPO (Initial Public Offering). This left many crypto market enthusiasts questioning Ripple’s future plans and contributed to the uncertainty surrounding XRP’s price.
Hot Take: Uncertainty Surrounding Ripple’s Future Plans Affects XRP Price
Ripple’s recent decision not to launch an IPO has led to a sense of uncertainty among investors, which is reflected in the recent plunge in XRP’s price. As a crypto trader or investor, it’s essential to stay informed about these developments and carefully consider your investment decisions amidst such market volatility.
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