XRP Whales Make Exchange-Related Transfers
In the past day, XRP whales have been making significant transfers on the blockchain. According to data from Whale Alert, three large transactions have been identified.
First Whale Transfer to Bitstamp
The first transfer involved 28.7 million XRP worth $14.7 million. The sender was an unknown wallet, while the receiver was the cryptocurrency exchange Bitstamp.
This suggests that the whale moved their coins to Bitstamp, possibly for selling or other services.
Second Whale Transfer to Binance
The second transfer was even larger, involving 100 million XRP valued at $51.3 million. This time, the coins were sent to Binance.
If these whales decide to sell on Binance, it could have negative consequences for XRP.
Third Whale Transfer from Binance
In contrast, the third transfer was an outflow from Binance to an unknown wallet. The same Binance address participated in both the second and third transfers.
The whale withdrew 20.6 million XRP, significantly less than what they deposited earlier.
XRP Price Impact
XRP’s price has dropped by around 5% in the past day, currently hovering around $0.5. This downward trend suggests that some of the deposited XRP may be intended for selling.
Hot Take: XRP Whales Influence Market with Exchange Transfers
The recent exchange-related transfers made by XRP whales indicate their potential influence on the market. These large-scale movements can cause noticeable fluctuations in price. While the intent behind these transfers remains uncertain, it is crucial to monitor whale activity as it may provide insights into the future direction of XRP. With the price already experiencing a decline, it remains to be seen how these transfers will impact the overall market sentiment towards XRP.
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