According to cryptocurrency data tracker Whale Alert, a big whale transaction involved the instantaneous transfer of millions of XRP.
36.3 million XRP, or precisely 36,370,840 XRP, worth $18,775,470, were transferred from untraceable whale wallets to Bithumb, one of the major cryptocurrency exchanges in South Korea.
https://x.com/whale_alert/status/1708022692115333438?s=20
Tokens are moved to exchanges for a number of reasons, including selling. Staking or airdropping might be further justifications. Whatever the circumstances, it remains uncertain what led to the transfer of XRP tokens. It can, however, seem like a move to take a profit.
The fact that XRP has surpassed Bitcoin as the most traded asset on the Bithumb crypto market shows that it is still a favourite with South Korean traders.
On September 30, XRP increased by almost 10% to $0.549 as interest in the Ripple Proper Party, which was held yesterday in New York City (NYC), rose. Gains were reduced, though, as Ripple CEO Brad Garlinghouse gave a preview of the event hours before it started.
Contrary to common assumption, he made it clear that there wouldn’t be any “big” announcements during the celebration.
Looking forward to seeing many of you tonight at the Proper Party—excited to bring people together to celebrate what we’ve all accomplished, a reminder to the SEC that court rulings matter and that progress is worth fighting for,” Garlinghouse wrote in a tweet.
“And as for any announcements that people are wondering about, tonight’s event is just a celebration,” he said, posting a picture of his freshly inked XRP tattoo.
After that, XRP saw some profit-taking and started Saturday’s session at $0.521. XRP has increased by 1.53% on the previous day to reach $0.517 at the time of writing. With $1.65 billion worth of XRP moved during this time, XRP 24-hour trading volume is still 118% higher.
