Introduction:
Whale Alert, the renowned cryptocurrency tracking robot, has detected a notable surge in XRP whale activity over the past 24 hours, involving the transfer of over half a trillion XRP tokens. Amidst this whale activity, several new XRP whales have entered the cryptocurrency market, facilitating the movement of hundreds of millions of XRP.
Discovering New XRP Whales:
Data from the aforementioned blockchain source revealed six cryptocurrency transactions in total, two of which involved more than 120 million XRP, and one transferred nearly 200 million XRP. The majority of these transactions were received by wallets classified by Whale Alert as “new and unknown.” Interestingly, all three of these transactions were moved to new wallet addresses, suggesting the emergence of three new cryptocurrency whales acquiring hundreds of millions in XRP.
Transfers to Major Exchanges:
Three out of the six mentioned transactions were classified as withdrawals from the prominent European cryptocurrency exchange, Bitvavo, based in the Netherlands. These transactions included XRP amounts totaling 123,112,280, 196,399,896, and 25,000,000, cumulatively valued at $177,500,000. Notably, all these transactions were directed to new wallet addresses.
Centralized Exchange Deposits:
Among the mentioned transactions, two were unrelated to Bitvavo. In contrast to the withdrawal operations, XRP tokens in these transactions were deposited into major cryptocurrency trading platforms, Bitstamp and Bitso. Whale Alert recorded transactions of 21,800,000 XRP and 28,200,000 XRP, valued at $11,185,280 and $14,469,021, respectively. These transactions originated from an unknown digital wallet address.
Insights into Ripple’s Involvement:
Deeper analysis using the XRP-focused explorer, Bithomp, revealed that both transactions were conducted from the same wallet address associated with Ripple Labs, the blockchain decacorn. It’s noteworthy that both Bitstamp and Bitso collaborate with Ripple Labs, utilizing XRP for fast and cost-effective cross-border payments through RippleNet.
Max Keizer’s Bearish Predictions for XRP:
In a recent series of tweets, Max Keizer, Bitcoin’s outspoken advocate, expressed bearish sentiments towards XRP, describing it as “centralized garbage.” Keizer, known for his maximalist views on Bitcoin, criticized XRP in light of his belief in Bitcoin’s decentralized nature.
Conclusion:
The recent surge in XRP whale activity, coupled with significant transfers and the emergence of new cryptocurrency whales, adds an intriguing dynamic to the cryptocurrency market. As developments unfold, the industry will closely watch the impact on XRP’s liquidity and overall market sentiment. Meanwhile, notable figures like Max Keizer continue to express polarizing opinions, reflecting the ongoing discourse within the crypto community.
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