Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
As reported by Whale Alert crypto tracker, which shares data on large cryptocurrency transactions, around 17 hours ago, an amount close to half a billion XRP was moved between anonymous wallets.
A much smaller XRP transfer was also spotted recently.
Whales move 450 million XRP
The aforementioned crypto tracing platform detected two lumps of XRP moved in the past 24 hours. One contained 40,000,000 XRP tokens worth $14,268,424. The second shifted 410,000,000 XRP, equated to $146,559,177.
Whale Alert tagged the wallet that sent 410 million Ripple-affiliated tokens anonymously, just as the receiver was anonymous. However, XRP explorer Bithomp shared that the transaction was made from a wallet linked to the EU-based Bitstamp exchange to an address that belongs to crypto trading platform Uphold based in New York.
The second transfer, shifting 40,000,000 XRP, also originated from a Bitstamp wallet, taking the funds to U.S.-based Bittrex crypto trading venue.
Is XRP correction signal playing out?
As U.Today reported earlier this week, analyst Ali Martinez shared that he had spotted a sell signal for XRP on a four-hour chart. In the meantime, he also noted, a bearish divergence was forming on the chart against RSI. To sum it up, the analyst was expecting a correction by one or several red candlesticks for XRP.
At that time, the token was exchanging hands at the $0.36772 level. By now, the price has diminished and hit $0.3463, dropping over 3% in the past 24 hours, according to CoinMarketCap's data.