Whale Moves 25 Mln XRP As Community Initiatives Drive Price

2023年11月20日

XRP once again gains significant traction in the crypto realm following whale movements and the Ripple community's advancements.

XRP, a cryptocurrency backed by Ripple Labs, is once again creating quite a buzz in the crypto realm as a whale transferred enormous amounts of XRP coins to a centralized exchange today, November 20.

The colossal transfer caught the eyes of cryptocurrency traders and investors alike as the same whale was observed transferring millions of XRP in a series of transactions over the past few days.

Concurrently, as of today, the XRP price also witnessed an upsurge. The notable shift in the price seems to come in alignment with the recent upper hand gained by Ripple Labs in the US SEC vs Ripple lawsuit, along with the Ripple community’s decision to offer aid to numerous projects leveraging the XRP Ledger (XRPL).

Whale Transfers XRP To Exchange
According to the data provided by Whale Alert, a blockchain tracking platform, an unknown wallet, r4wf7enWPx…5XgwHh4Rzn, recently transferred 25 million XRP to a centralized exchange, Bitstamp, headquartered in Luxembourg City, Europe.

The massive transfer of XRP caught the eyes of crypto traders globally as the dumping of tokens to centralized exchanges usually portrays a bearish sentiment due to the increase in the number of tokens in circulation.

However, the XRP price displayed market sentiments on the contrary, surging marginally as of today.