Millions

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XRP whales are active as millions of digital currencies have been spotted on-chain in the past 24 hours.&nbsp;<a href="https://twitter.com/whale_alert/status/1718890733782937680?s=20" rel="noopener noreferrer nofollow">According</a> to data from crypto insights platform Whale Alert, there have been at least two massive whale movements thus far. The biggest, involving some 50,000,000 XRP worth approximately $27,602,730, was moved from CryptoCom exchange to an unknown wallet.
<blockquote>
 🚨 🚨 50,000,000 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> (27,602,730 USD) transferred from <a href="https://twitter.com/hashtag/CryptoCom?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#CryptoCom</a> to unknown wallet<a href="https://t.co/mgEut2tYeA" rel="noopener noreferrer nofollow">https://t.co/mgEut2tYeA</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1718890733782937680?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">October 30, 2023</a>
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The second XRP whale movement featured 26,700,000 XRP valued at a market price of $14,829,710 moved from an unknown wallet to Bitstamp. Notably, the movements of these tokens likely connote different reasons. While the transfer of funds from an unknown wallet to Bitstamp could imply a possible sell-off, that from CryptoCom might be associated with potential safekeeping.
With no way to judge the intentions of these token owners, being accurate with this permutation is highly unlikely. With&nbsp;<a href="https://u.today/xrp-ledger-to-host-world-expo-2025-nfts-details" rel="noopener noreferrer nofollow">XRP's utility growing</a> by the day, the outflow from CryptoCom to an unknown wallet might also be loosely associated with over-the-counter (OTC) transactions, most of which are generally not spotted on-chain.
Additionally, the XRP sent to Bitstamp might also be earmarked for some passive-earning products on the trading platform. Worthy of note, XRP is now featured on different platforms as a token with a high propensity for growth.
<h2 id="how-is-xrp-price-reacting">How is XRP price reacting</h2>
As gleaned from the reactions trailing the whale transfer updates, many industry members are already tagging this a red flag that might connote an impending sell-off. Despite this bearish sentiment, XRP is in positive territory, with its&nbsp;<a href="https://coinmarketcap.com/currencies/xrp/" rel="noopener noreferrer nofollow">price up 1.2%</a> at the time of writing to $0.5537.
This impressive growth rate is accompanied by a 57% jump in trading volume to $797.9 million, solidifying XRP as one of the in-demand tokens on the market today. While&nbsp;<a href="https://u.today/xrp-buyers-remain-in-greed-as-correction-sets-in" rel="noopener noreferrer nofollow">corrections</a> are generally not ruled out after a positive October, permutations are that XRP is set for more&nbsp;<a href="https://u.today/xrp-finds-golden-cross-again-can-it-help-second-time-this-year" rel="noopener noreferrer nofollow">ambitious runs</a> in the near term.

Millions of XRP Spotted Moving On-Chain, Possible Reasons

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