Whale Dumps $14 mn XRP Despite Ripple’s Latest Win
The XRP crypto has been a topic of interest due to the ongoing dispute between Ripple Labs and the SEC. Whales have transferred 26.8 million XRP tokens, worth $14.24 million, from an unknown wallet to Bitstamp exchange, raising concerns about a potential sell-off in the market. This comes amid positive news from the XRP family, which has boosted market optimism. The large number of transfers has sparked speculations about the future of the XRP crypto.
The cryptocurrency market has seen significant gains due to positive news from the Ripple ecosystem. When funds move into an exchange, it indicates market participants are selling their assets, while if funds move out, it suggests investors want to hold cryptos. A whale transferred 20.40 million XRP tokens worth $10.83 million from an undisclosed wallet to Bitso exchange. Despite recent transactions and speculations, the crypto price has seen significant gains.
(With inputs from Shikha Singh)
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