Advertisement
AD

Main navigation

Advertisement

XRP Eyes Abnormal Multimillion Activity on Korean Market Amid XRP Price Drama

Advertisement
Fri, 22/03/2024 - 8:39
XRP Eyes Abnormal Multimillion Activity on Korean Market Amid XRP Price Drama
Cover image via www.freepik.com

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.

Read U.TODAY on
Google News

Whale Alert, a crypto transaction monitoring platform, has detected a substantial movement on the XRP market. Approximately 30 million XRP tokens, valued at around $19 million, were withdrawn from Upbit, South Korea's leading cryptocurrency exchange, which boasts a turnover of $5.5 billion, as reported by CoinMarketCap.

Advertisement

The withdrawal was directed to an undisclosed address labeled "r3ow," known for its history of handling large XRP transactions. Presently, only 978,122 XRP tokens remain at this address, indicating a rapid dispersal to various destinations.

Related

Such significant withdrawals from exchanges often suggest strategic asset management, potentially reflecting bullish sentiment among investors. Conversely, movements toward exchanges typically signify a propensity to sell.

Advertisement

XRP has climbed to become the fourth-largest trading pair on Upbit, accounting for $415.56 million in turnover when paired with the Korean Won, representing 7.57% of the exchange's total turnover.

XRP price outlook

Despite recent days witnessing a notable uptick in the XRP price, with gains exceeding 10%, the token's current trajectory suggests a minor setback. The influx of withdrawals has not significantly altered the situation, though it remains stable, especially considering XRP's recent performance amid market volatility.

Article image
XRP to USD by CoinMarketCap

Related

The surge in trading volume, coupled with the withdrawal from Upbit, underscores growing interest and activity surrounding XRP, amid broader market fluctuations. Investors and observers await further developments as XRP navigates through the complexities of current market dynamics.

A
A
A

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD