From past to present, whether due to the SEC case or unexpected price movements, XRP has always been a cryptocurrency that attracts attention. Confirming this, incredible events occurred on the evening of January 14, 2024. Billions of XRP were suddenly involved in transfer events. So how did the whales react to this event, which later turned out to be an unsuccessful attempt?
Current Situation of XRP
While XRP maintained a stable appearance, information emerged last night that XRP worth 15 billion dollars was sent to Bitfinex. This transaction represented almost 25% of the circulating supply of XRP.
Accordingly, an incredible atmosphere of excitement was created around XRP and Bitfinex. Following the development of events, it turned out that the situation was nothing more than a fake attempt.
While events centered on Bitfinex were taking place, XRP whales also continued their transactions at full speed. During this process, the whales attracted attention by transferring over 26 million dollars worth of XRP tokens to Bitstamp.
According to Whale Alert, which tracks whale transactions in the cryptocurrency world, the transfer of 26.2 million XRP tokens was made from an unknown wallet to Bitstamp. The transaction by the whale took place within 1 hour after the Bitfinex event came to light. The transfer to Bitstamp was worth approximately 15.16 million dollars.
Whale Alert reported last night that 25.6 billion XRP tokens worth 14.85 billion dollars were thrown into Bitfinex. The CTO of the cryptocurrency, Paolo Ardoino, named this a “Partial Payment Exploit”. On the other hand, he stated that the attack was blocked by Bitfinex, which effectively managed the ‘delivered_amount’ data field.
Whale Alert, however, stated that the situation was just a mistake and made the following statement:
#Ripple node response had an issue with being read correctly, which caused a few false postings. We have fixed the issue.
XRP Coin Price
Despite the recent controversial whale transaction and a large sell-off by a trader, the XRP price has maintained a stable appearance. In addition, the steady rate of increase revealed how cautious investors are. As of the time of writing, the XRP price is trading at 0.5792 dollars, showing an increase of 0.83%.
The market value of XRP is at the level of 31.4 billion dollars, representing an increase of 0.22%. On the other hand, the trading volume has exceeded 1 billion dollars in the last 24 hours, with an increase of 78.71%.
