As the ongoing fluctuation in the cryptocurrency market continues, XRP Its price dropped more than 4% today and once again attracted attention as whales shifted 150 million coins. Meanwhile, as market participants try to cope with volatile prices, recent XRP transactions have sparked various speculations about the future of the cryptocurrency.
On-chain tracking platform Whale Alert detected three significant XRP movements totaling 150 million coins. Especially RippleIn a rather large transaction, 100 million tokens worth approximately $52.81 million were transferred to an unidentified wallet. This transfer occurred simultaneously with the sending of 28.27 million tokens worth approximately $15.13 million to Bitstamp by an unknown wallet named “r4wf7….h4Rzn”, sparking controversy in the cryptocurrency community.
At the same time, the wallet in question transferred 21.92 million XRP, worth approximately $11.74 million, to the Bitso exchange, further fueling speculation. It is known that this wallet has attracted the attention of investors recently as a significant amount of its tokens have been moved to these exchanges.
There are various speculations regarding the reasons behind these transactions. While some are interpreting this as a strategic sale, others think it could be in line with Ripple’s liquidity management strategy, especially considering its previous stake acquisition in Bitstamp.
In particular, Bitstamp’s collaboration with Ripple on cross-border payments complicates interpretation, with Ripple often using XRP for seamless global fund transfers.
Meanwhile, XRP price declined and fell below $0.53. Earlier, a leading market analyst, EGRAG Crypto, stated that this level is considered in the context of an ascending channel and is interpreted as a bullish signal. The challenge for traders lies in continuing the uptrend by keeping the price above $0.53.
