One of the largest and most talked about assets in the cryptocurrency world XRP Active days continue in token. According to Whale Alert, strong whale activity in the network has triggered various speculations.
As Koinfinans.com reported, it has been at the root of speculation as it emerged amidst a wave of excitement witnessed following Ripple’s extension of action in its case against the US SEC. It is among the information received that the judge Sarah Netburn gave Ripple the right to extend the deadline for the submission of financial statements.
According to Whale Alert, 25.10 million XRP tokens were transferred to the Europe-based Bitstamp exchange. While these transactions were taking place, the price had increased.
What Do XRP Whale Transactions Reveal?
According to data revealed by Whale Alert, the XRP transfer worth $ 14.03 million took place to the central exchange Bitstamp, as mentioned above.
According to data from Trading View, XRP exhibited a significant decline just before the sell-off. However, it gained upward momentum shortly after the dump on Bitstamp. This immediately sparked speculation among crypto market traders and investors as a pump in supply contrasted with the usual market sentiment of a drop in price. Moreover, CoinGecko data showed that the price was trending just above $0.56.
