Massive XRP sale: Whale surpasses XRP by $14 million
The XRP Cryptocurrency has received increased attention from investors recently due to the ongoing legal relationship between Ripple Labs, an American blockchain payment platform, and the US Securities and Exchange Commission (SEC).
In a recent development, a large amount of XRP has been transferred by many wallets.
As per a report from Whale Alert, search Big pair recently transferred 26.8 million XRP tokens, equivalent to a value of $14.24 million, from a wallet submitted to the Bitstamp exchange. This series of transfers of significance has led to speculation in the market about a possible sell-off that will occur in the near future.
Importantly, when funds flow into the exchange, this is often referred to as market participants preparing to sell their assets.
In addition, the sales force grows along with the development of its substance in the market. In this particular transaction, the issuing partner paid 20.40 million XRP tokens, worth $10.83 million, from a wallet given to the Bitso exchange.
Recent transaction transactions and increased speculation have led to a decrease in the current price of the crypto currency. Nevertheless, it should be noted that cryptocurrencies have seen a significant increase recently, mainly driven by some positive developments in the Ripple ecosystem.
Ripple's latest discovery
On October 3, analyst Hakim Torres provided an example of related significance from a historical perspective made in the procurement of XRP in July 2023. In this latest development, he made an SEC arrangement to conduct a sela. This is intended as a potential Ministry for the company and contribute in increasing investor confidence.
However, it should be noted that the price of XRP is down 1.18% over the past 24 hours, compared to $0.523 at the time of writing. One-day trading Volume fell by 38.47% to $ 1.01 billion, while its market capitalization fell by 1.16% compared to the previous day, now reaching $27.87 billion.
