XRP Whale Cashes Out $25M Despite Recent Ripple Rally

Published 13/06/2024, 19:30
© Reuters.  XRP Whale Cashes Out $25M Despite Recent Ripple Rally
XRP/USD
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Coin Edition -

  • Whale activity in XRP raises bearish concerns despite recent price recovery and market resilience.
  • 52M XRP transferred to CEXs suggests increased supply, but XRP defies expectations with a 2.07% price rise.
  • Ripple’s planned RLUSD stablecoin aims to stabilize XRP transactions, fostering optimistic market sentiment.

Massive XRP transfers to centralized exchanges by a prominent whale have sparked concerns among investors, despite the cryptocurrency’s recent price recovery.

Over the past 24 hours, a whale has moved an enormous volume of XRP to centralized exchanges (CEXs). This move comes against the backdrop of XRP’s recent price recovery, which has led to increased scrutiny of whale behavior and its potential impact on market dynamics.

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