On-chain data tracker Whale Charts mainly highlighted a significant XRP transaction, which might indicate doom for the popular crypto asset.
Whale Charts tweeted that an unidentified investor invested 28.4 million Ripple (XRP), or $14.9 million, in Bitstamp. Bitstamp wallet r4wf7enWPx sent the amount to rDsbeomae4.
Of course, large transfers are not new to XRP. However, switching to an exchange wallet suggested dumping the tokens, provoking crypto community and analyst speculation. @wais_taherian, a crypto enthusiast, questioned, “Will it be dumped again?”
Also Read: Ethereum Whale Ends Up Dumping 41M Dollars’ Worth Of Ether Before Market Tumbles
According to @cryptoiz_IDN, this might mean more ‘whale’ investors entering the crypto market. This massive XRP movement is only the most recent of the token’s tremendous moves.
Three days earlier, the same wallet, r4wf7enWPx, transferred around 29.3 million XRP, worth $15.13 million, to the already-mentioned Bitstamp wallet rDsbeomae4. Both senders and recipients are the same.
Whale Charts reported two days ago that wallet rK3P1jMwgm transferred 425.86 million XRP worth $220.1 million to wallet rpiY9qekn4.
However, investors saw this movement as merely a wallet change, thus it did not set off any warning bells.
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