en.bitcoinsistemi.com
Whale Alert, a crypto transaction monitoring platform, has detected a significant movement in the $XRP market. As reported by CoinMarketCap, approximately 30 million $XRP tokens worth $19 million were withdrawn from Upbit, South Korea's leading cryptocurrency exchange.
Rise in $XRP Prices Triggered 30 Million $XRP Transfer
The withdrawal was directed to an undisclosed address labeled “r3ow”, known for its history of processing large $XRP transactions. Currently, only 978,122 $XRP tokens remain at this address, indicating a rapid distribution to various destinations.
🚨 30,000,000 #$XRP (19,009,084 USD) transferred from #Upbit to unknown wallethttps://t.co/3YC9fe1jQv
— Whale Alert (@whale_alert) March 22, 2024
Such significant withdrawals from exchanges often indicate strategic asset management and potentially reflect bullish sentiment among investors. Conversely, movements towards the stock markets can typically indicate a selling trend.
Although a significant rise in $XRP price has been witnessed in recent days with gains exceeding 10%, the token's current trajectory indicates a minor pullback.
Withdrawals have not changed the situation significantly, but remain stable, especially considering $XRP's recent performance amid market volatility.
The increase in trading volume, combined with the withdrawal from Upbit, underscores a growing interest and activity surrounding $XRP amid broader market volatility.
*This is not investment advice.