On-chain data tracker Whale Charts recently flagged a massive XRP transaction that could spell doom for the popular crypto asset.
According to a tweet by Whale Charts, an unknown investor transferred approximately 28.4 million Ripples (XRP), which is equivalent to approximately $14.9 million, to Bitstamp. The amount was transferred from wallet r4wf7enWPx to another Bitstamp wallet, rDsbeomae4.
- Of course, substantial transfers are nothing new for XRP. Nonetheless, the shift towards exchange wallets signaled a possible dumping of the token, fueling speculation within the crypto community and analysts.
- A crypto fan, @wais_taherian, asked about the impending selloff and said, “Will it be dumped again?”
- Researcher @cryptoiz_IDN suggestion of This may indicate an influx of ‘whale’ investors entering the crypto market.
- This huge XRP movement is just the latest of the huge movements for the coin.
- About three days ago, the same wallet, r4wf7enWPx, moved approximately 29.3 million XRP, worth $15.13 million, to another Bitstamp wallet, rDsbeomae4, which was previously mentioned as the recipient. Note that in both cases the sender and the recipient are the same.
- Another massive XRP transaction was reported by Whale Charts about two days ago when wallet rK3P1jMwgm moved 425.86 million XRP worth $220.1 million to wallet rpiY9qekn4 in a single transfer.
- However, this movement did not cause any concern as investors noted that it was a wallet change.
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