Impact

Million

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/whale-moves-14-5-million-in-ripple-to-bitstamp-market-wary-of-potential-sell-off" rel="noopener noreferrer nofollow">Whale Moves $14.5 Million in Ripple to Bitstamp, Market Wary of Potential Sell-Off</a><br></p>
<p style="text-align: justify">Bitstamp, one of the oldest cryptocurrency exchanges, recently became the receiving point for a substantial transfer of Ripple (<a href="https://en.bitcoinhaber.net/xrps-market-challenges-and-recovery-prospects" rel="noopener noreferrer nofollow">XRP</a>) from a significant investor, creating a stir among the XRP community. On February 4th, a Whale Alert flagged the relocation of roughly 29 million XRP, valued at $14.5 million, from an anonymous wallet to Bitstamp. Such massive transactions often cause unrest among investors due to concerns that the asset might be sold, potentially causing a drop in its market price.</p>
<h2 id="whale-movements-spark-market-speculation">Whale Movements Spark Market Speculation</h2>
<p style="text-align: justify">Despite fears, the motive behind this enormous transfer remains unclear. Whales may be adjusting their holdings across different wallets or preparing for a large acquisition. However, after recent events where over 200 million XRP were stolen from Ripple Labs-linked accounts, whale activities have seen a significant reduction.</p>
<h2 id="impact-on-ripple-s-market-performance">Impact on Ripple’s Market Performance</h2>
<p style="text-align: justify">In attempts to avoid market disruption, some whales may opt to offload their tokens gradually. The resulting uncertainty makes it difficult to dismiss potential selling pressure. The sixth-largest crypto has struggled to regain its footing following last week’s security breach, depreciating by 3.8% in value since.</p>
<p style="text-align: justify">This downtrend is mirrored in the XRP futures market, where Coinglass data reveals a surge in short positions over long ones. Despite these challenges, XRP purchasing remains a common trend among traders. Market optimism for a rebound persists, fueled by Hyblock Capital’s analysis indicating a prevailing sense of market greed.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/whale-moves-14-5-million-in-ripple-to-bitstamp-market-wary-of-potential-sell-off" rel="noopener noreferrer nofollow">Whale Moves $14.5 Million in Ripple to Bitstamp, Market Wary of Potential Sell-Off</a></h5>

Whale Moves $14.5 Million in Ripple to Bitstamp, Market Wary of Potential Sell-Off

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