- Whale Alert highlighted significant XRP transactions in the last 24 hours.
- Ripple executed a substantial transfer of 60 million XRP, valued at $36.6 million, to an undisclosed wallet.
- Purpose behind Ripple’s transfer is unclear, sparking speculation in the crypto community.
In the last 24 hours, Whale Alert, a prominent cryptocurrency data tracker, has flagged significant XRP transactions, shedding light on large-scale movements within the market. Notably, two substantial transactions caught the attention of crypto enthusiasts and analysts alike.
Ripple, the blockchain-based payment protocol, executed a sizable transaction by transferring 60 million XRP. Valued at approximately $36.6 million, the funds were moved from Ripple to an undisclosed wallet. The motive behind this transfer remains shrouded in mystery, prompting speculation within the crypto community.
Analysts suggest two potential scenarios for Ripple’s move
Analysts suggest two potential scenarios for Ripple’s move. Firstly, it could be a strategic sale conducted through an over-the-Counter (OTC) transaction, a method often preferred by entities seeking to trade outside traditional crypto exchanges. Alternatively, it might signify an internal reshuffling of funds, wherein assets are transferred to a different address under the same ownership.
In a parallel development, an unidentified cryptocurrency whale initiated a transfer of 23.9 million XRP, equivalent to $14.6 million, to the Bitstamp crypto exchange. The destination, in this case, sparks curiosity about potential market signals or the intention to sell XRP. Bitstamp is a notable platform, and the transfer might indicate an impending sale, though the true motive remains elusive.
