Massive XRP transfers to centralized exchanges by a prominent whale have sparked concerns among investors, despite the cryptocurrency’s recent price recovery. Over the past 24 hours, a whale has moved an enormous volume of XRP to centralized exchanges (CEXs). This move comes against the backdrop of XRP’s recent price recovery, which has led to increased […]
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- Whale activity in XRP raises bearish concerns despite recent price recovery and market resilience.
- 52M XRP transferred to CEXs suggests increased supply, but XRP defies expectations with a 2.07% price rise.
- Ripple’s planned RLUSD stablecoin aims to stabilize XRP transactions, fostering optimistic market sentiment.
Massive XRP transfers to centralized exchanges by a prominent whale have sparked concerns among investors, despite the cryptocurrency’s recent price recovery.
Over the past 24 hours, a whale has moved an enormous volume of XRP to centralized exchanges (CEXs). This move comes against the backdrop of XRP’s recent price recovery, which has led to increased scrutiny of whale behavior and its potential impact on market dynamics.
30,045,000 #XRP (14,533,925 USD) transferred from unknown wallet to #Bitstamphttps://t.co/JL4N3c3nzx
— Whale Alert (@whale_alert) June 12, 2024
Based on on-chain data, one of the most active XRP whales moved about 52 million XRP to CEXs. This large-scale transfer of tokens has historically been a bearish market indicator, often leading to increased supply and downward pressure on prices.
As per Whale Alert, a platfo…
The post XRP Whale Cashes Out $25M Despite Recent Ripple Rally appeared first on Coin Edition.
