Million

<ul> 
 <li>An unknown wallet transferred 23.7 million Ripple (XRP) worth $11.5 million to Bitso, a Latin American exchange, on October 11th at 7:56 PM UTC.</li> 
 <li>The transfer incurred minimal fees, approximately 0.000015 XRP, showcasing the cost-efficiency of XRP for large transactions.</li> 
 <li>XRP balance of mid-tier holders (10 million to 100 million XRP) decreased by 330 million tokens since late September.</li> 
</ul> 
<p>According to whale monitoring resource Whale Alert, an unknown wallet transferred 23.7 million <a href="https://thenewscrypto.com/?s=ripple" target="_blank" rel="noreferrer noopener">Ripple</a> (<a href="https://thenewscrypto.com/?s=XRP" target="_blank" rel="noreferrer noopener">XRP</a>) valued at $11.5 million to major Latin American exchange Bitso on Wednesday. The large transfer occurred around 7:56 PM UTC on October 11th.</p> 
<p>Notably, the whale only spent a tiny fraction of XRP, around 0.000015 XRP, in fees to move the nearly $12 million sum. This highlights the efficiency of XRP for transferring large values at a low cost.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> 23,700,000 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> (11,502,941 USD) transferred from unknown wallet to <a href="https://twitter.com/hashtag/Bitso?src=hash&amp;ref_src=twsrc%5Etfw">#Bitso</a><a href="https://t.co/CuumLCSnko">https://t.co/CuumLCSnko</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1712195507685138611?ref_src=twsrc%5Etfw">October 11, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<h2 class="wp-block-heading" id="h-whale-movement-comes-amidst-drop-in-xrp-balance">Whale movement comes amidst drop in XRP balance</h2> 
<p>The shift comes as XRP whale data shows declining balances among mid-tier holders. Those with 10 million to 100 million XRP coins saw their cumulative balance drop by 330 million tokens since late September.</p> 
<p>On August 24th, a significant whale also moved 29 million XRP, worth over $15 million at the time, to an exchange amid a price decline. Large transfers often precede increased volatility.</p> 
<p>While the motivation behind this latest transaction remains unclear, exchanges typically represent liquidation venues for major investors. However, funds could also be shifted for custody purposes.</p> 
<p>Still, the magnitude of the transfer may portend greater XRP price fluctuations ahead. Whales depositing in exchanges tend to signal conviction in further downside or upside. Their maneuvers often presage breakouts.</p> 
<p>For now, the sheer amount kept off exchanges underscores lasting conviction by long-term holders. But concentrated transfers between wallets introduce unpredictable volatility that keeps traders on guard.</p>

Whale Moves $11.5 Million Ripple (XRP) to Exchange Amid Ongoing Transfers

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