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$700M Worth of XRP Just Moved: Should You Be Worried?

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TL;DR

  • With crypto prices booming and assets charting all-time highs, certain high-profile wallets have started to move massive portions of their holdings.
  • In one of the latest such transfers, Whale Alert noted that over $700 million worth of the third-largest cryptocurrency has been sent to another unknown wallet.

Given the anonymity of the transfer, it remains challenging to determine the reason behind it. Some of the users below the post speculated that it could be a long-dormant whale who has decided to cash out after XRP’s recent rally.

After all, the asset skyrocketed to a new all-time high last week and now sits close below it, following a 73% monthly surge.

“Big money moves like this typically signal whales repositioning—think profit-taking after a major rally, prepping liquidity for institutions, or hedging ahead of volatility.

Recent headlines spotlight XRP smashing highs and big names moving hundreds of millions to exchanges, fueling both FOMO and correction chatter,” reads one of the comments.

However, the fact that the funds went into another unknown wallet, rather than an address associated with an exchange, raises some doubt over that claim.

What we know for certain is that Ripple whales have been on an accumulation trend for the past few weeks, acquiring 2.2 billion tokens in a 14-day span that ended on July 17.

So far, the $700 million transfer doesn’t seem concerning, especially in such a market phase in which almost all crypto assets are charting gains. However, it would be interesting to follow if there’s a follow-up and further developments on the matter.

Pos $700M Worth of XRP Just Moved: Should You Be Worried? muncul pertama kali di CryptoPotato.

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