Several major whale transactions were observed in the XRP market, according to Whale Alert on social media platform X. One of the largest transfers was 424,354,912 XRP, valued at $214,293,666, moved from an unknown wallet to another. Additionally, 19,920,318 XRP worth $10,167,904 was transferred from another unknown wallet to the Binance exchange, and 66,666,659 XRP worth $33,065,809 was moved from an unknown wallet to Binance. There is speculation that the unknown wallet belongs to Ripple and that the company may be planning to sell its tokens, leading to predictions of a market dump. Ripple also conducted other transactions, locking 800,000,000 XRP in escrow. An on-chain analytics firm, Santiment, highlighted the effects of these whale movements, including an increase in XRP’s circulating supply and a rise in development activity.
AI Sentiment: Positive