An unknown wallet is worth $100 million Ripple (XRP) transferred, but the market remained calm.
One of the whale alert systems, an anonymous wallet, transferred nearly $100 million worth of XRP to the centralized exchange Bithumb. The fate of the traded XRPs was not disclosed.
The market has yet to react to the massive transaction that could greatly affect the price of the coin compared to the average daily volume. The current tracked volume is stored on Binance as 167 million XRP.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 88,000,000 #XRP (92,677,936 USD) transferred from unknown wallet to #bitumbhttps://t.co/P9LkocxfjF
— Whale Alert (@whale_alert) November 19, 2021
88 million XRP A volume sell order can change the course of the market within seconds, representing approximately 50% of the total daily volume.
In the last 10 days, XRP has lost 19% of its value compared to the local peak it reached on November 9. But at the same time, Ripple has been moving in an uptrend since the end of September and has reached new high lows for 58 days.
The general correction in the cryptocurrency market bitcoin It also hit other altcoins. Experts state that the main reason for the correction was purely technical, as the market was highly leveraged and overbought in the medium-term period.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.