Million-Dollar Transfer By Ripple (Xrp) Whale: What Are The Details?

A Ripple (XRP) whale's transfer of millions of dollars worth of tokens to a centralized exchange has drawn significant attention.

Recent network activities involving Ripple, one of the largest cryptocurrencies by market value, have caused confusion among investors. A significant transfer by a XRP whale has sparked a lot of discussion on social media.

According to blockchain data, a well-known Ripple address transferred 28 million XRP tokens to an exchange based in Luxembourg. WhaleAlert's post on the evening of May 27th highlighted that this whale transferred 28.6 million Ripple tokens, valued at $15.3 million, to the Bitstamp exchange.

Following this significant transfer by the whale, the overall market downturn led to XRP's price dropping to $0.521 in the morning hours. Currently, Ripple is trading at $0.532.

This whale, known for moving millions of XRP coins, is not new to the spotlight. Previously, this prominent investor attracted attention by transferring 32 million Ripple tokens to the Bitstamp exchange, making waves in the market.

According to CoinMarketCap data, XRP, which remained stagnant over the past 24 hours, has a market value of $29 billion at the time of writing. Ripple's daily trading volume is recorded at $1.1 billion.

Since a significant drop in mid-April, Ripple, the seventh-largest cryptocurrency by market value, has been moving sideways.

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