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In a surprising turn of events,&nbsp;<a href="https://x.com/whale_alert/status/1733935290044108814?s=20" rel="noopener noreferrer nofollow">WhaleAlert</a> has revealed a massive transfer of 22.8 million XRP tokens, valued at $14.23 million, from an undisclosed wallet to Bitstamp, one of the crypto market's oldest exchanges.
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 🚨 22,800,000 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> (14,953,662 USD) transferred from unknown wallet to <a href="https://twitter.com/hashtag/Bitstamp?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitstamp</a><a href="https://t.co/DtylwavIpA" rel="noopener noreferrer nofollow">https://t.co/DtylwavIpA</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1733935290044108814?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">December 10, 2023</a>
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The mysterious wallet, created just this January, has a track record of multiple transactions involving both Bitstamp and Mexican exchange Bitso.&nbsp;
Intriguingly, both platforms share a common thread — they are avid users of Ripple services, particularly the Ripple Payments service, and boast a longstanding collaboration with the renowned crypto company.
Notably, the anonymous wallet still retains over two million XRP, raising speculation about its potential affiliation with&nbsp;<a href="https://u.today/ripple-cto-gives-his-answer-to-bitcoin-btc-is-ponzi-thesis" rel="noopener noreferrer nofollow">Ripple</a>. The timing of this substantial transfer, which may be related to Ripple's operations, raises eyebrows as it precedes a noteworthy dip in XRP's value.&nbsp;
In hours of the transfer, the&nbsp;<a href="https://u.today/xrp-bulls-on-alert-as-analyst-signals-bullish-momentum-targets-2-and-beyond" rel="noopener noreferrer nofollow">XRP price</a> plummeted by 8.1%, revisiting levels last witnessed in early December. <img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="4d915642-25b8-40c8-bccc-5ecef6c882ce" src="https://u.today/sites/default/files/inline-images/XRP_7D_graph_coinmarketcap_4.jpeg">XRP to USD by <a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">CoinMarketCap</a>
<a href="https://www.coinglass.com/LiquidationData?fbclid=IwAR3Kzfm_kp-H6k6qrtM7s-L7MdFTg3g8lKA3uhob0V5DvIJvc71E4VodU1A" rel="noopener noreferrer nofollow">CoinGlass</a> data reveals that this downturn resulted in a staggering $5.55 million in liquidations for long XRP positions, constituting a significant 97.7% of all liquidations — both short and long — over the past 12 hours.&nbsp;
Currently trading at $0.623 per token, the XRP community is left in suspense, grappling with the question: Is this the onset of a panic or a golden opportunity to seize discounted assets?
The market now stands at a crossroads, and all eyes are fixated on the unfolding events. As&nbsp;<a href="https://u.today/crypto-mogul-mike-novogratz-on-xrp-i-was-wrong" rel="noopener noreferrer nofollow">XRP</a> holders grapple with uncertainty, the community eagerly awaits further developments to decipher whether this is a crisis or an opportune moment to seize. The unfolding saga promises to reveal itself in the coming days.

22.8 Million XRP Sell-Off? Major Exchange Transfer Coincides With Price Dip; Is It Time to Panic?

U_Today

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