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According to the latest altcoin data released by Whale Alert, one of the leading blockchain whale tracking platforms, a significant amount of XRP tokens were recently sent from an unknown crypto wallet to the centralized exchanges Bitstamp and Bitso.
The whale transactions that took place on November 3, 2023, transferring over 50 million XRP tokens to two different CEXes, did not go unnoticed by investors and traders.
XRP Analysis and Whale Movements
In today’s transactions, an unknown crypto wallet with the address 4wf7enWPx…5XgwHh4Rzn transferred 25.4 million XRP tokens worth $15.42 million to the crypto exchange platform Bitso. Additionally, millions of XRP tokens were sent from the same wallet to another crypto exchange, Bitstamp.
13 hours ago, the mentioned wallet sent an additional 25.4 million XRP tokens worth approximately $15.42 million to Bitstamp. The millions of XRP tokens sent by whales to centralized exchanges indicate the possibility of a potential sell-off in the cryptocurrency, leading to discussions among investors about a potential drop in XRP price.
The Future of XRP Coin
Last week, XRP price made significant gains by following Bitcoin, experiencing an 8.89% increase. However, its current price has slightly dropped by 1.25% to $0.6003. The price increase in XRP last week reflected Ripple Labs’ decisions and efforts to support the community’s future.
As we reported earlier this morning, Ripple has formed a strategic partnership with the National Bank of Georgia and announced the launch of the Digital Lari pilot project. Although XRP’s price is relatively low today, the upcoming partnership could bring a positive outlook for the future.
Whales moving large amounts of XRP tokens in recent days have gained even more attention with the support of the community. Investors and traders are showing bullish movements following the latest XRP movement reported by Whale Alert.
