- A crypto whale made a transfer of around 29,700,000 XRP tokens to Bitstamp.
- The total worth of the tokens during the transaction was 15,017,079 USD.
A crypto whale is basically a classification of someone who buys and sells cryptocurrencies in large numbers. So, the same thing applies to when someone buys and sells off XRP tokens in large numbers. There was a recent transfer, which made the XRP price dip.
Crypto Whale Sellout Over $15 Million XRP Tokens
- According to a new update from the whale monitoring platform, a crypto whale recently made a transfer of over $15 million XRP Tokens. So, data from Whale Alert shows that there were around 29,700,000 XRP tokens for this particular transaction. At the time when this crypto whale made this transaction, the total worth of the XRP tokens was around 15,017,079 USD. So, note that the transfer of these tokens was from an unknown wallet to another address at Bitstamp Exchange.
- The major speculation was that the transfer was made to sell the XRP holdings. So, more details show that the occurrence of this transaction was around Tue, 26 Sep 2023 19:56:52 UTC. The sender for this transfer had a wallet address of r4w…Rzn. The receiving address for the XRP tokens at Bitstamp had a wallet address of rDs…dBv. So, more details show that this crypto whale didn’t spend much on gas fees at 0.000015 XRP (0.00 USD).
XRP Price Update After Crypto Whale Sellout
- XRP is currently in a fragile state, according to the price data. So, selling off cryptocurrencies like XRP in large numbers can cause the price to dip. The recent sell-off of XRP tokens might have made a massive contribution to the current price dip. So, at the time of writing, XRP’s price is managing to keep up within the $0.50 range. There are massive chances that the price will go down. So, this is according to data from Coinmarketcap.
- On the daily chart, the price of XRP is down by close to 1%. So, it continues to get worse on the weekly and monthly charts. The price is currently down by more than 3% in the weekly chart. So, on the monthly chart, it is down by more than 4%.
- The price of XRP isn’t the only thing having a bad time in the market. So, there’s some reduction in key metrics such as trading volume and market cap. At the time of writing, the trading volume of XRP is down by more than 2% at $755,378,502. So, the market cap of this token is also on the negative at $26.65 billion.
Conclusion
A crypto whale embarked on a selling spree involving XRP tokens. So, the amount of XRP tokens for this particular transaction was about 29,700,000. The total worth of the tokens when the whale made the transfer was about 15,017,079 USD. So, there are speculations that a massive sell-off like this is causing the recent XRP market dip.
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The information provided in this article is for informational purposes only and should not be considered financial advice. The article does not offer sufficient information to make investment decisions, nor does it constitute an offer, recommendation, or solicitation to buy or sell any financial instrument. The content is opinion of the author and does not reflect any view or suggestion or any kind of advise from cryptonewsbytes.com. The author declares he does not hold any of the above mentioned tokens or received any incentive from the company.
