XRP, a prominent altcoin, has recently attracted attention in the cryptocurrency world due to significant whale activity, sparking strong speculation waves. Whale Alert, a service that tracks large blockchain transactions, reported that a crypto whale moved 26.8 million XRP, fueling market speculation.
According to the latest on-chain data from Whale Alert, an anonymous whale wallet address starting with r4wf transferred 26.8 million XRP to a central cryptocurrency exchange (CEX), specifically to Luxembourg-based Bitstamp, valued at $14.75 million.
The wallet address’s recent transfers of similar XRP amounts to Bitstamp during price dips have caught investors’ interest. These transfers are considered even more significant as they follow Ripple’s strategic buyback of shares on the exchange.
Market observers note that despite the altcoin’s price drop, the crypto whale continues to sell and may persist. Over the past 24 hours, XRP’s price has fallen by 2.34% to $0.5389, with a notable 12.61% decline over the week.
Interestingly, the transfers to Bitstamp coincide with today’s price drop, alongside a significant decrease in the altcoin’s market value and trading volume. Despite the downturn, a well-followed crypto analyst, XRP Whale, made a contrarian prediction, suggesting February would be outstanding for the Ripple-backed altcoin.