Another Ripple Crash Imminent? Whale Moves Millions of XRP to Korean Exchange

2023-08-18 06:52:38

The market has suddenly crashed today, resulting in billions worth of liquidated leveraged positions. This comes on the back of Bitcoin’s price plunging toward $25K and many other cryptocurrencies following suit.

Ripple’s XRP has seemingly had it the worst. It’s down over 15% in the same period, and now it might even be in for more trouble.

Ripple’s XRP has crashed by more than 15% in the past 24 hours alone, leaving over $50 million worth of liquidated leverage positions, according to data from CoinGlass.
But it seems that the altcoin might be in for more trouble.
The well-known whale transaction tracking resource *Whale * has flagged a massive transaction of 150 million XRP sent to the largest Korean exchange – Bithumb.

Source: Whale * It’s important to note that this doesn’t necessarily mean that there’s a crash incoming.

However, more often than not, investors send their cryptocurrency to an exchange with the intention to sell rather than hold.
This particular transaction saw the transfer of almost $80 million worth of XRP – a formidable amount.

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