2024

Million

Drops

<ul>
 <li><strong>Whale Alert detected two massive XRP transfers to Bitso and Bitstamp wallets from the same wallet.</strong></li>
 <li><strong>Ripple’s court victory over the SEC clears institutional barriers, boosting XRP’s future potential.</strong></li>
</ul>
<p>In a recent price swing, whale tracking sites noticed large transfers of XRP tokens worth millions of dollars to exchange wallets. Whale Alert, a well-known crypto monitoring service, reported two distinct and significant XRP transfers on Twitter.</p>
<p>The initial transfer involved 25,200,000 XRP, or $15,368,209, which was sent to a <a href="https://x.com/whale_alert/status/1821675313161441489" rel="noopener noreferrer nofollow">Bitso</a> wallet. The second transfer saw 7,770,000 XRP, worth $11,180,378, sent to a <a href="https://x.com/whale_alert/status/1821633339985457521" rel="noopener noreferrer nofollow">Bitstamp</a> wallet. Notably, both transactions came from the same wallet, 5XgwHh4Rzn.</p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> 25,200,000 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> (15,368,209 USD) transferred from unknown wallet to <a href="https://twitter.com/hashtag/Bitso?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Bitso</a><a href="https://t.co/d5sb63GyaL" rel="noopener noreferrer nofollow">https://t.co/d5sb63GyaL</a></p>
 <p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1821675313161441489?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 8, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<h2 id="strong-whale-transfers-hint-at-liquidation-as-xrp-value-drops-following-massive-moves-strong"><strong>Whale Transfers Hint at Liquidation as XRP Value Drops Following Massive Moves&nbsp;</strong></h2>
<p>Typically, transferring assets to exchange wallets indicates an intention to liquidate or swap these tokens for others. At the time of writing, the sending wallet had only 209.37 XRP, worth around $125.50, indicating a significant decrease in its holdings following these massive transfers.</p>
<p>Meanwhile, as this piece is being written, Ripple’s token is trading at approximately <strong>$0.5985</strong>, down <strong><span style="color: #ff0000;">2.68%</span></strong> over the last 24 hours. It appears that these two transactions were a contributing factor in the most recent decline in the value of <span style="color: #008000;"><a style="color: #008000;" href="https://www.crypto-news-flash.com/ripple-xrp-judgment-sparks-anticipated-sec-appeal-will-xrp-hit-10-before/" rel="noopener noreferrer nofollow">XRP</a></span>.</p>
<div class="cryptoboxes" id="mcw-345586" data-realtime="on">
 <div class="mcw-chart mcw-chart-light" data-font="inherit" data-coin="xrp" data-symbol="XRP" data-currency="USD" data-rate="1.000268" data-type="chart" data-view="day" data-theme="light" data-smooth="true" data-areacolor="" data-bgcolor=""></div>
</div>
<p>On the other hand, CNF recently <span style="color: #008000;"><a style="color: #008000;" href="https://www.crypto-news-flash.com/breaking-victory-for-ripple-as-xrp-is-not-a-security-in-the-us-125m-fine-for-the-truth/" rel="noopener noreferrer nofollow">highlighted</a></span> Ripple’s big victory over the SEC, with XRP officially labeled a non-security. Additionally, the court decreased the SEC’s punishment for institutional XRP sales that violated federal securities laws from $2 billion to $125 million.</p>
<p>Following this triumph, as we previously <span style="color: #008000;"><a style="color: #008000;" href="https://www.crypto-news-flash.com/analyst-ripples-xrp-will-reach-20-in-a-year-from-now/" rel="noopener noreferrer nofollow">reported</a></span>, an analyst anticipated that XRP would reach $20 within a year. The restrictions on institutions gaining exposure to Ripple’s coin appear to have been lifted, paving the way for a potentially huge leap in the future.</p>

XRP Whale Moves Million of Tokens to Exchanges, Prepare to Dump?

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