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<a href="https://bitcoinworld.co.in/xrp-transfers-hit-mega-millions-possible-reasons-for-the-move/" title="XRP Transfers Hit Mega Millions, Possible Reasons For The Move?" rel="noopener noreferrer nofollow"></a>
On the notion that huge whales are shifting funds to exchanges to sell, XRP is currently witnessing a bearish sell-off.&nbsp;
This pattern was discovered by crypto data insights provider Whale Alert, who observed three consecutive <a href="https://twitter.com/whale_alert/status/1722728632466997289" rel="noopener noreferrer nofollow">transfers</a> involving 100,000,000 XRP launched internally from Ripple Labs, 23,400,000 XRP, and 24,700,00 XRP sent to Bitstamp and Bitso, respectively.&nbsp;
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <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;"> <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;"> <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;"> 100,000,000 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> (66,074,002 USD) transferred from unknown wallet to unknown wallet<a href="https://t.co/iYD14bUBqg" rel="noopener noreferrer nofollow">https://t.co/iYD14bUBqg</a>
 — Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1722728632466997289?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 9, 2023</a>
</blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
While the actual reason for these transactions is unknown, they generally highlight how ripe XRP is for profit-taking, which explains the migration of the last two to trading platforms. According to the reason, XRP has been on a recent rampage, with its price rising as much as 30.12% in the last month.&nbsp;
Read Also: <a class="row-title" href="https://bitcoinworld.co.in/ripple-ceo-brad-garlinghouse-ready-to-fight-sec-in-supreme-court/" aria-label="“Ripple CEO, Brad Garlinghouse, Ready To Fight SEC In Supreme Court” (Edit)" rel="noopener noreferrer nofollow">Ripple CEO, Brad Garlinghouse, Ready To Fight SEC In Supreme Court</a>
XRP reached a high of $0.72, its highest level since July, when Judge Analisa Torres ruled in a landmark decision that its programmatic sales on secondary marketplaces do not constitute a security.&nbsp;
With the massive run, most long-term XRP holders felt compelled to eke out some gains as recompense for their arduous HODLing experience due to the SEC case.&nbsp;
At the time of <a href="https://coinstats.app/coins/ripple/" rel="noopener noreferrer nofollow">writing</a>, XRP is trading at $0.6514, down 6.55% in the previous 24 hours.
<figure id="attachment_54859" aria-describedby="caption-attachment-54859" style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class=" wp-image-54859" src="https://bitcoinworld.co.in/wp-content/uploads/XRP-Price-Chart-1-440x300.png" alt="" width="561" height="382" srcset="https://bitcoinworld.co.in/wp-content/uploads/XRP-Price-Chart-1-440x300.png 440w, https://bitcoinworld.co.in/wp-content/uploads/XRP-Price-Chart-1-733x500.png 733w, https://bitcoinworld.co.in/wp-content/uploads/XRP-Price-Chart-1.png 768w" sizes="(max-width: 561px) 100vw, 561px">
 <figcaption id="caption-attachment-54859" class="wp-caption-text">
 XRP Price Chart | Source: Coinstats
 </figcaption>
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<h3 id="span-style-font-weight-400-xrp-is-about-to-recover-span">XRP Is About to Recover</h3>
Despite the <a href="https://u.today/xrp-transfers-hit-mega-millions-possible-reasons" rel="noopener noreferrer nofollow">prospect</a> of a sell-off by large XRP whales and the resulting price drop, optimism for an impending recovery is high. This is due to the fact that the major triggers that fuelled the earlier surge in the year are still substantially there, and as such, will play a part in redefining investor excitement in the coming days.&nbsp;
Aside from the recent court victory for XRP, Ripple Labs, and the company’s management, advancements on the XRPL are worth watching since they bring real-world utility that can successfully boost demand for XRP in the long run.
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote>
The post <a href="https://bitcoinworld.co.in/xrp-transfers-hit-mega-millions-possible-reasons-for-the-move/" rel="noopener noreferrer nofollow">XRP Transfers Hit Mega Millions, Possible Reasons For The Move?</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

XRP Transfers Hit Mega Millions, Possible Reasons For The Move?

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