Whale Moves $248 Millions Worth XRP, Sparks Community Reactions

XRP has gained the attention of crypto enthusiasts as whales continue to move XRP on November 1, leading to XRP’s strong uptrend movements.

On November 1, a significant transfer of over 412.89 million tokens worth $248 million was reported by the crypto tracking service platform Whale Alert. As per the released information, the hefty amount of XRP has been transferred from an unknown wallet to an unknown new wallet.

Recent anonymous XRP transactions:

Investors and traders are eying an upward trend with the recent XRP transactions reported on Whale Alert. In the past 24 hours, many whales moved XRP tokens to anonymous wallets. Some of the reported transactions accompanied escrow unlocking from Ripple-linked wallet.

In a transaction, 400,000,000 XRP worth $239 million was unlocked from escrow. Escrow unlocked a third similar transaction at Ripple which was of 100,000,000 XRP tokens valued at nearly $59 million.

Besides Escrow, Ripple also did a transaction to an anonymous wallet. The transaction was of 50,000,000 XRP (29,870,608 USD).

The aforementioned transfer, which was made in the past 24 hours, is in addition to the transfer of $14 million worth of XRP tokens, sent to Bitstamp from an unknown wallet.

Read Also: Ripple Q3 Report Shows 5% US Exchange Growth Amid Legal Win

Crypto enthusiasts’ sentiments about whale activities:

Notably, the recent transfers predict that XRP to continue to derive support from ongoing optimism that its issuer Ripple Labs will win its ongoing lawsuit against the SEC.

This current trend of XRP is also pushing investors to hold a positive approach towards the Ripple XRP market, as it is witnessing a strong bullish sentiment, aiming for rapid progress for Ripple XRP.

However, a section of the crypto community is rife with speculation about a potential link between one of these anonymous wallets and Ripple Labs. These consecutive transactions underscore a trend where whales are amassing XRP tokens in millions, an activity that has been reported on a regular basis for the past few weeks.

XRP price currently trading at $0.59968864. Its 24-hour trading volume is $1,738,778,807 and has plunged -1.01% in the previous 24 hours. In addition, XRP’s live market cap is $32,119,628,590.

Read Also: OpenAI Rival Baidu Unveils Chatbot Ernie’s Paid Version

The post Whale Moves $248 Millions Worth XRP, Sparks Community Reactions appeared first on CoinGape.