Undisclosed XRP wallet decides to withdraw a large volume of XRP coins from centralized exchanges as part of the global exchange outflows trend.
According to the whale alert tracking service, a whale-tier address withdrew 12.7 million XRP coins from the medium-tier CoinOne exchange to an unknown wallet. Funds have not moved since from the receiving wallet.
The transaction falls under the rapidly developing outflow trend that is currently present on the market after volatility rapidly increased.
Previously, U.Today reported that Ethereum traders are draining exchange supplies by moving away from the majority of existing assets for undisclosed reasons.
Ripple could not avoid the global cryptocurrency correction that hit the market in the last couple of days. Ripple lost approximately 14% of its value in only eight days while previously moving in a strong uptrend for the last 40 days.
During the most recent run, Ripple gained more than 40% to its value compared to the beginning of October.
Urvashi Verma
Tomiwabold Olajide
Gamza Khanzadaev