On-chain data tracker Whale Charts just flagged a massive XRP transaction, which could spell doom for the popular crypto asset.
As per Whale Charts’ tweet, an anonymous investor moved about 28.4 million Ripple (XRP), equivalent to roughly $14.9 million, into Bitstamp. The amount was transferred from wallet r4wf7enWPx to another Bitstamp wallet, rDsbeomae4.
- Of course, substantial transfers are not new to XRP. Nonetheless, the shift towards an exchange wallet signaled a possible dumping of the tokens, igniting speculation within the crypto community and analysts.
- One crypto aficionado, @wais_taherian, asked about an impending selloff, saying, “Will it be dumped again?”
- Researcher @cryptoiz_IDN suggests this could signal an influx of ‘whale’ investors entering the crypto market.
- This enormous XRP movement is merely the latest of the colossal movements of the token.
- About three days prior, the same wallet, r4wf7enWPx, moved about 29.3 million XRP, worth $15.13 million, to another Bitstamp wallet, rDsbeomae4, mentioned as a recipient earlier. Notice the sender and recipient in both cases are the same.
- Another massive XRP transaction was reported by Whale Charts just about two days ago when wallet rK3P1jMwgm moved 425.86 million XRP worth $220.1 million to wallet rpiY9qekn4 in a single transfer.
- However, this movement did not raise any alarms as investors noted it was a wallet change.
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Wayne Jones
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