XRP tokens have seen multiple transfers to exchanges in the past few hours, raising concerns among traders. After experiencing a 21% drop influenced by Bitcoin, XRP has managed to make a comeback and is currently trading at $0.5165, up by over 5.3%. Whale Alert has reported several significant transfers of XRP to top centralized exchanges, including Bitvavo, Bithumb, and Bitstamp. These transactions, totaling 452 million XRP, have taken place within the last 24 hours.
The first transfer occurred on Bitstamp, with the exchange receiving 22 million XRP worth over $10.8 million from an anonymous wallet. A more substantial transfer of over $200 million worth of XRP was sent to Bithumb from an unknown wallet. Additionally, Bitvavo received 40 million XRP in two transactions from unknown wallets, totaling over $20.6 million. In total, these exchanges have received 452,869,591 XRP, equivalent to $232,603,38, within the last 24 hours.
These large transfers have sparked mixed reactions within the crypto community, with some speculating that it could lead to a significant sell-off. The timing of these transfers has also added to the speculation. However, it remains unclear who the entities behind these transactions are, as XRP Explorer Bithomp has provided limited information. While the source wallet for the Bithumb transfer belongs to the exchange itself, the source of the inflow to Bitstamp and Bitvavo is still unknown.
These transfers to exchanges come shortly after Ripple moved 100 million XRP to an unidentified wallet, further fueling sell-off concerns. It is essential to note that this article is for informational purposes only and should not be considered financial advice. Readers are advised to conduct their research before making any investment decisions.
