A notable transaction recently took place on the XRP network. A whale moved a whopping 104 million XRP coins in a single transaction, according to data from Whale Alert, which shared the event on social media platform X.
This transaction has caught the attention of the crypto community, partly because the sender is an unknown whale. XRP investors are speculating on the possible reasons behind this large movement.
Since the transaction took place on August 16, the price of XRP has risen slightly. On Friday, the popular altcoin dropped below the $0.56 level, but has since risen to the current level of $0.573.
$58 Million Worth of XRP Coins Moved
The giant whale moved 104.4 million XRP, worth $58 million, in a single transaction. The coins were transferred from an unknown wallet to an unknown address.
The exact reason behind this transaction remains unclear. Since both addresses are anonymous, it is uncertain whether this is a sale of coins, which could be a potential bearish signal. Another possibility is that the whale is rebalancing his portfolio and owns multiple wallets.
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Source: https://newsbit.nl/grote-crypto-whale-verplaatst-104-miljoen-xrp-tokens/
