Crypto News– As of November 10, a series of significant whale transactions has garnered attention within the crypto community, involving the reshuffling of approximately 150 million XRP tokens amidst the ongoing price fluctuations of XRP.
Significant XRP Movement: Whales Shift 150 Million XRP in Response to Price Fluctuations and Ripple’s IPO Buzz
Following Ripple’s partial victory in the SEC vs. Ripple Labs lawsuit, the XRP token has experienced continuous price shifts, with whales strategically moving millions of tokens to build support for the XRP token. According to recent market data from Whale Alert, a blockchain tracking platform, an unknown wallet with the address r4wf7enWPx…5XgwHh4Rzn transferred around 24.70 million XRP to Bitso, a digital asset exchange based in Mexico.
Additionally, the same wallet sent 23.40 million XRP to another centralized exchange, Bitstamp, located in Luxembourg City.
These whale transactions, involving the movement of XRP to exchanges, may suggest a potential increase in supply, influencing market sentiment towards a bearish trend.
However, sparking speculation among crypto enthusiasts, another noteworthy transaction featured an unknown wallet with the address rJqiMb94hy…W8AzELa8nE transferring a substantial amount of 100 million XRP to another unknown wallet, rP4X2hTa7A…7XZ63sKxv3, as of today.
XRP Price Takes a Nosedive Amidst Talks of Ripple’s Potential IPO
At the time of writing, the XRP price has experienced a modest decline of 6.68%, settling at $0.6503 today. Concurrently, the market capitalization has also seen a decrease of 6.56%, reaching $34.87 billion. Despite this recent dip, the price has shown resilience with an 8% increase over the last seven days and a notable surge of over 30% in the past 30 days.
Notably, the Ripple Swell conference held in Dubai concluded without the anticipated announcement of an Initial Public Offering (IPO) for Ripple.
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