Token

Bitcoin

Read

<ul>
 <li>Whales transfer 452M XRP to top exchanges, sparking sell-off speculations.</li>
 <li>XRP price up 5%, recovers to $0.5165 amidst massive transfers.</li>
 <li>Ripple moves 100M XRP, coinciding with large exchange inflows</li>
</ul>
<p>Recent on-chain activity has revealed significant XRP transfers totaling 452,869,591 XRP to major exchanges Bitvavo, Bithumb, and Bitstamp, stirring reactions within the cryptocurrency community. This notable movement comes amidst a recovery in XRP’s price, which has climbed more than 5% in the past day, with its value currently at approximately $0.5165. These transfers raise questions about potential market effects, as large-scale movements of cryptocurrencies to exchanges often precede selling pressure.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><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;"> <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;"> <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;"> 390,869,591 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> (201,100,740 USD) transferred from unknown wallet to <a href="https://twitter.com/hashtag/Bithumb?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bithumb</a><a href="https://t.co/IMNZBQEP6D" rel="noopener noreferrer nofollow">https://t.co/IMNZBQEP6D</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1779763424471204004?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 15, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p><strong>Details of the XRP Transfers</strong></p>
<p>The sequence of transfers began with Bitstamp receiving 22 million XRP from an anonymous wallet. Shortly thereafter, a substantial transfer of 390,869,591 XRP was made to Bithumb, followed by two transactions totaling 40 million XRP to Bitvavo.&nbsp;</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><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;"> 20,000,000 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> (10,349,833 USD) transferred from unknown wallet to <a href="https://twitter.com/hashtag/Bitvavo?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitvavo</a><a href="https://t.co/LRlP6st1sA" rel="noopener noreferrer nofollow">https://t.co/LRlP6st1sA</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1779792339545853974?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">April 15, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>The combined value of these transactions exceeds $232 million, according to the latest prices. While Bithump’s transaction appears to be an internal movement, the origins of the funds sent to Bitstamp and Bitvavo remain unidentified, leading to speculation regarding the intention behind these transfers.</p>
<p>The large inflow of XRP to these exchanges has not gone unnoticed. Daniel, a user within the XRP community, <a href="https://x.com/chdnzm1/status/1779775624485408925" target="_blank" rel="noopener noreferrer nofollow">expressed</a> concerns that this could be a precursor to a significant market sell-off. Such sentiments are common when whales, or large holders of a cryptocurrency, transfer substantial amounts to exchanges, potentially to liquidate positions. These actions can have short-term impacts on the market, influencing other traders’ sentiments and strategic decisions.</p>
<p><strong>Ripple’s Recent Activities</strong></p>
<p>Amidst these movements, Ripple Labs has also been active, transferring 100 million XRP to an unidentified wallet. This action coincides with the large transfers to the exchanges and contributes to the speculative atmosphere surrounding XRP’s short-term movements. Ripple’s transfers are often closely watched by the market due to the company’s significant role in the XRP ecosystem and ongoing legal considerations with regulatory bodies.</p>
<p>Concurrently, Bill Morgan, an Australian attorney with insights into cryptocurrency trends, has pointed out XRP’s underperformance compared to major cryptocurrencies such as Bitcoin and Ethereum. Over various timeframes, XRP has shown a decline in its comparative value, particularly against Bitcoin. This trend underscores the challenges XRP faces in gaining momentum despite regulatory clarity in its favour from a recent court ruling.</p>
<h4 class="wp-block-heading" id="h-read-also">Read Also:</h4>
<ul class="wp-block-yoast-seo-related-links">
 <li><a href="https://cryptonewsland.com/bitcoin-stirs-above-20k-could-it-flip-to-support/" rel="noopener noreferrer nofollow">Bitcoin Stirs Above $20k, Could It Flip to Support</a></li>
 <li><a href="https://cryptonewsland.com/14159-btc-420m-transfer-sparks/" rel="noopener noreferrer nofollow">Whale Alert: 14,159 BTC ($420M) Transfer Sparks Crypto Community Speculation</a></li>
 <li><a href="https://cryptonewsland.com/xrps-half-billion-token-transfer-ripples-strategic-move-unveiled/" rel="noopener noreferrer nofollow">XRP’s Half-Billion Token Transfer: Ripple’s Strategic Move Unveiled</a></li>
 <li><a href="https://cryptonewsland.com/xrp-whales-make-waves-76-6m-tokens-shifted-whats-next/" rel="noopener noreferrer nofollow">XRP Whales Make Waves: 76.6M Tokens Shifted – What’s Next?</a></li>
 <li><a href="https://cryptonewsland.com/whale-alert-massive-xrp-transfers-spark-speculation/" rel="noopener noreferrer nofollow">Whale Alert: Massive XRP Transfers Spark Speculation</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/massive-xrp-transfers-to-exchanges-stir-market-speculations/" rel="noopener noreferrer nofollow">Massive XRP Transfers to Exchanges Stir Market Speculations</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Massive XRP Transfers to Exchanges Stir Market Speculations

Crypto News Land

Andra artiklar publicerade 15 apr. 2024

Indian crypto pioneers shed light on the impact of Bitcoin halving

Ethena (ENA) Token Rides Bullish Wave Fueled by Whale Stakings

Solana soars 10% after major software upgrade

Crypto – Ethereum Recovers After a Sharp Decline!

Cardano smart contracts soar with over 1,000 added in April

Germany’s Largest Federal Bank To Offer Crypto Services

Prenumerera på vårt nyhetsbrev och få kryptouppdateringar varje dag!