A recent event is the discovery by Whale Alert of a significant XRP withdrawal from Bitvavo, a well-known European exchange. Raising questions, the withdrawal of a whopping 196.4 million XRP tokens worth at $101.5 million disappeared into a “unknown” location.
Following the money’s journey, Bithomp and XRP Scan discovered an amazing series of happenings. This huge transfer today triggered an unknown high-volume recipient address, which resulted in withdrawals to two more unknown locations. The original wallet was eventually emptied completely.
It seems plausible to propose that these mysterious addresses are probably associated with Bitvavo’s internal storage wallets, based on similarities with other transactions that have been noticed with the exchange.
https://x.com/whale_alert/status/1750112240949133792?s=20
XRP price action
Notable price activity for XRP occurred at the same time as this significant transfer. After a sharp decline of more than 5.5% that sent the token plunging to $0.496 recently, the XRP market unexpectedly recovered, surging back over $0.5 per token, a critical psychological barrier.
There are rumours that the price of XRP might rise even more if it is able to stabilise at this level and the market stays favourable.
Discussions over how this transfer would affect the price trajectory of the digital asset are now rife in the XRP community. As market players wonder why Bitvavo made such a large move, the fascination grows.
According to others, a large buyer may have purposefully purchased a sizable amount of XRP, believing that the token’s price would rise.
