Whale Alert reported that a large crypto whale transferred millions of XRP to the Bithumb exchange in a single transaction.
Whale Alert reported that a total of 36.3 million XRP, worth $18.77 million, was transferred from an unidentified whale wallet address to Bithumb, South Korea’s largest crypto exchange.
Cryptocurrencies are moved to crypto exchanges for various purposes in the crypto sector. One of these purposes is selling them. Other reasons may include staking or AirDrop. Regardless of the reason, the exact motive behind the XRP transfer to Bithumb exchange is unknown.
XRP continues to be a popular cryptocurrency among South Korean investors, as evidenced by its high trading volume, surpassing Bitcoin, on the Bithumb exchange.
XRP reached $0.549 on September 30, gaining over 10% in value, due to increasing expectations for the Ripple Proper Party held in New York City (NYC) on September 29. However, some of the gains in XRP were erased after Ripple CEO Brad Garlinghouse made a statement hours before the party, clarifying that no major announcement would be made at the event, contrary to expectations.
In his tweet, Garlinghouse stated, “I’m excited to see many of you tonight at the Proper Party; excited to celebrate what we’ve accomplished together, remind everyone of the importance of court decisions against the SEC, and why it’s worth fighting for progress.” He added the following:
As for whether there will be any announcements that people are curious about; tonight’s event is just a celebration.
Following Ripple CEO’s tweet, the price of XRP retraced slightly. The popular altcoin, which started the day at $0.512, is currently trading at $0.517, representing a 1.53% increase in the past 24 hours. XRP’s 24-hour trading volume still has a significant increase of 118%, with $1.65 billion worth of XRP being bought and sold during this period.