Is This Whale Planning to Dispose $15 Million Worth of Ripple (XRP)?

2023-08-28 15:36:22

On-chain data tracker Whale Charts just flagged a massive XRP transaction, which could spell doom for the popular crypto asset.

As per Whale Charts’ tweet, an anonymous investor moved about 28.4 million Ripple (XRP), equivalent to roughly $14.9 million, into Bitstamp. The amount was transferred from wallet r4wf7enWPx to another Bitstamp wallet, rDsbeomae4.

Of course, substantial transfers are not new to XRP. Nonetheless, the shift towards an exchange wallet signaled a possible dumping of the tokens, igniting speculation within the crypto community and analysts.
One crypto aficionado, @wais_taherian, asked about an impending selloff, saying, “Will it be dumped again?”
Researcher @cryptoiz_IDN suggests this could signal an influx of ‘whale’ investors entering the crypto market.
This enormous XRP movement is merely the latest of the colossal movements of the token.
About three days prior, the same wallet, r4wf7enWPx, moved about 29.3 million XRP, worth $15.13 million, to another Bitstamp wallet, rDsbeomae4, mentioned as a recipient earlier. Notice the sender and recipient in both cases are the same.
Another massive XRP transaction was reported by Whale Charts just about two days ago when wallet rK3P1jMwgm moved 425.86 million XRP worth $220.1 million to wallet rpiY9qekn4 in a single transfer.
However, this movement did not raise any alarms as investors noted it was a wallet change.

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