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A total of 36.3 million XRP, or exactly 36,370,840 XRP worth $18,775,470, were moved from unidentified whale wallets to Bithumb, one of South Korea's top crypto exchanges.
Tokens are moved to exchanges for a variety of purposes, one of which is to sell them. Other reasons could include staking or airdropping. Whatever the case may be, the specific reason for the XRP token transfer is unknown. However, it may appear to be a profit-taking move.
XRP remains a popular crypto asset among South Korean traders, as evidenced by the fact that it is now the most traded asset on the Bithumb crypto exchange, overtaking Bitcoin.
XRP gained over 10% to $0.549 on Sept. 30 as anticipation grew for the Ripple Proper Party, which took place yesterday in New York City (NYC). However, the gains eased after Ripple CEO Brad Garlinghouse hinted at what to expect at the event hours before it began.
He specifically stated that there would be no "big" announcements at the party, contrary to popular belief.
Garlinghouse tweeted, "Looking forward to seeing many of you tonight at the Proper Party—excited to bring people together to celebrate what we've collectively achieved, a reminder to the SEC that court decisions matter and that progress is worth fighting for."
"And as for any announcements that people are wondering about, tonight's event is just a celebration," he continued, uploading a photo of his newly engraved XRP tattoo.
Following that, XRP saw slight profit-taking, opening Saturday's session at $0.521. At the time of writing, XRP was up 1.53% in the previous 24 hours to $0.517. XRP 24-hour trading volume is still 118% higher, with $1.65 billion worth of XRP traded in this span.