XRP Alert: Single Whale Snaps up 32 Million XRP on Major Korean Exchange

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Another possibility is that large players, or whales, are accumulating XRP ahead of positive announcements, future price swings or as part of a long-term investment strategy. The move might also be that of funds reshuffling or the transfer of funds to cold wallets to hold for a longer period of time rather than selling.

The timing of the transaction is noteworthy since it occurs at a time when prices are falling across the board on the cryptocurrency market. That said, the intention of the whale might be to accumulate at a discount.and major alternative cryptocurrencies fell lower as profit-taking from Monday continued. Several major tokens slipped, with XRP down 0.01% in the last 24 hours to $0.612.

In a separate transaction, crypto data tracker Whale Alert reported that 23,870,000 XRP worth $14,846,587 were sent from an unknown wallet to Bitstamp.Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.

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