A stupendous transfer of 20 million Ripple coins (XRP) didn’t go unnoticed by the blockchain whale tracking agencies. According to Whale Alert, one major crypto player cashed out 20 million XRP coins from Upbit, a popular centralized crypto exchange (CEX).
Sponsored
This has sparked some fiery reactions on social media, with crypto investors attempting to identify the crypto wallet’s ownership. “Great. Now I know why we will be red tomorrow”, 0 uttered XRP Army member Faisal while others named pre-pump intentions.
Are Ripple’s (XRP) Whales Really Cashing Out?
Simply put, this $60 million transaction could either be a crypto whale accumulation move or a sell-off, depending on where the Ripple coin (XRP) arrives upon withdrawal. Digging further, DailyCoin’s research team has established that the crypto whale in question distributed most of the received 20M Ripple tokens, leaving 711,434 XRP coins on balance.
Did other crypto whales follow? According to the real-time blockchain statistics, the crypto whales are almost equally divided between selling & accumulating. With the Chaikin Money Flow (CMF) pointing at an even balance, the Bull Bear Power (BBP) metric shifted slightly towards the bullish side.
If Ripple coin (XRP) closed the day above $3, a further push towards the long-term goal of $5 could happen sooner than later. On the other hand, Ripple’s (XRP) price movement massively depends on the legal headwinds with the ETF, SEC case & the progress of Genius & Clarity Acts, opening uncharted waters in terms of crypto legislation.
Discover DailyCoin’s popular crypto scoops:
Trump to Sign Executive Order Shielding Crypto Firms from Bank Discrimination
Litecoin’s (LTC) $150 Bull Run: Here’s Key Force Behind It
People Also Ask:
A wallet moved 20M XRP ($60M) from Upbit to an unknown address, sparking debate about whether it’s a sell-off or a strategic move.
Large XRP transfers to exchanges often signal potential sales, raising fears of price dumps. XRP dipped 5% after hitting $3.65, fueling speculation.
Some X users claim it’s insiders unloading XRP, citing past patterns like a $175M transfer. Others argue it’s not linked to Ripple insiders.
The transfer might be for liquidity management, institutional onboarding, or staking prep, possibly tied to growing institutional interest.
Despite volatility, XRP’s fundamentals—regulatory clarity and institutional adoption—suggest resilience. For fresh updates, visit DailyCoin.
