XRP Whale Sparks Fear: Massive 100 Million Moved, 19.7 Million to Bitso
In a significant move yesterday, an address connected to blockchain payment giant Ripple shifted 100 million XRP, valued at $57.92 million. The transaction was first highlighted by Whale Alert, a leading crypto tracking service. The large transfer has sparked discussions across the community.
Data from Bithomp reveals that the sending wallet, identified as rP4xv3, transferred the 100 million tokens to another wallet, rhW2hk. Both wallets are currently labeled as unknown by the XRP Ledger explorer. However, there are strong suggestions that the original wallet has ties to Ripple.
This isnt the first time the sending wallet has been active. On September 17, the same wallet moved 50 million tokens to the same recipient. Following this recent transaction, the wallet still holds 50.181 million tokens.
XRP enthusiasts are now speculating whether the tokens might be sold off. Such large movements have triggered concerns about potential dumps, especially since the recipient wallet swiftly transferred 19.957 million tokens to another Ripple-linked wallet. Shortly after, Ripple moved 19.7 million tokens to Bitso, a crypto exchange, and another 257,000 tokens to Bitstamp within minutes.
These fast-paced transfers are fueling anxieties within the community. While its uncertain what Ripples next moves are, the activity has not gone unnoticed.
XRP Whale Activity on the Rise
Ripples transactions come amid increased whale activity in the XRP market. Earlier this month, on September 5, an anonymous whale deposited 95 million tokens to Binance. A similar transfer occurred two days later, when 105 million tokens was sent to an unknown wallet.
As of today, XRP is trading at $0.5858, marking a weekly rise of 9.09%. In the last 24 hours, the coin has rallied by 1.98%. The token, currently ranked seventh by market cap, continues to capture market attention with these sizable whale moves.
The Ripple whales activity adds another layer to the already volatile XRP market. For now, all eyes are on what Ripples next big move will be.
Read more: https://www.tronweekly.com/xrp-whale-sparks-fear-100-m-moved-19-7-m-bitso/
Text source: TronWeekly
