Burn

Shiba Inu

Dubai

As of today, November 10, a series of enormous whale transactions caught the attention of crypto traders and investors alike as crypto whales reshuffled around 150 million XRP tokens amid the ongoing XRP price fluctuations.
Following Ripple’s partial victory in the US SEC vs Ripple Labs lawsuit, the XRP token underwent constant price fluctuations, with whales jiggering over millions of tokens to date, to build up support orbiting the XRP token.
<h2 id="xrp-whale-transfers-a-detailed-report">XRP Whale Transfers: A Detailed Report</h2>
According to the recent market <a rel="noopener noreferrer nofollow" href="https://whale-alert.nl/transaction/ripple/5A4A658801EF59827ED0A468914E07FE52C666010E4D3F2DE180DD247ADB89BE" target="_blank">data</a> provided by Whale Alert, a blockchain tracking platform, approximately XRP 24.70 million was transferred from an unknown wallet, r4wf7enWPx…5XgwHh4Rzn, to Bitso, a Mexico-based digital asset exchange.
Furthermore, the same wallet <a rel="noopener noreferrer nofollow" href="https://whale-alert.nl/transaction/ripple/3FE5EAA53D491BFCF23CFF7DE40B328B98FB3A85A4E893E73A71C62E5D9FB047" target="_blank">transferred</a> XRP 23.40 million to another centralized exchange named Bitstamp, headquartered in Luxembourg City.
The aforementioned transactions revolving around whales sending XRP to exchanges may indicate a possible increase in supply, pushing the market sentiment toward bearish.
However, another <a rel="noopener noreferrer nofollow" href="https://whale-alert.nl/transaction/ripple/52072918E5FCA5506D1FC0FB61E530B2EE9507101EDBFE7BCA3F3E9595AC2D71" target="_blank">transaction</a> that stirred up speculation among crypto enthusiasts involved an unknown wallet, rJqiMb94hy…W8AzELa8nE, sending a whopping XRP 100 million, to another unknown wallet, rP4X2hTa7A…7XZ63sKxv3, as of today.
The aforementioned whale movement to an unknown wallet appears to come contrary to the transfers made to exchanges. The transfer of tokens among unknown wallets indicates that the market might portray a bullish sentiment orbiting the token.
Also read: <a href="https://coingape.com/ubs-follows-hsbc-unveils-crypto-etf-in-hong-kong/" target="_blank" rel="noopener noreferrer nofollow">UBS Follows HSBC, Unveils Crypto ETFs in Hong Kong</a>
<h2 id="xrp-price-plunges-amid-ripple-ipo-speculations">XRP Price Plunges Amid Ripple IPO Speculations</h2>
As of writing, the <a href="https://coingape.com/price/xrp/" target="_blank" rel="noopener noreferrer nofollow">XRP price</a> witnessed a marginal downfall of 6.68%, reaching $0.6503 as of today. Moreover, the market cap also witnessed a fall of 6.56%, reaching $34.87 billion. Although the price has witnessed a surge of around 8% in the last seven days while increasing over 30% over the last 30 days.
Interestingly, the Ripple Swell conference conducted in Dubai concluded without the much-sought announcement of an IPO (Initial Public Offering) for Ripple.
As Ripple ended the conference without the launch of an IPO, crypto market enthusiasts were taken by storm, questioning the fintech’s future plans.
However, the price fall of XRP seems to come in alignment with Ripple’s recent decision not to give out an IPO, following which investors remain uncertain.
Also read: <a href="https://coingape.com/shiba-inu-burn-rate-rockets-1100-as-shib-price-plummets/" target="_blank" rel="noopener noreferrer nofollow">Shiba Inu Burn Rate Rockets 1100% As SHIB Price Plummets</a>
The post <a rel="noopener noreferrer nofollow" href="https://coingape.com/whales-move-150-mln-xrp-amid-price-drop-ripple-ipo-speculations/">Whales Move 150 Mln XRP Amid Price Drop &amp; Ripple’s IPO Speculations</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coingape.com">CoinGape</a>.

Whales Move 150 Mln XRP Amid Price Drop & Ripple’s IPO Speculations

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