The post XRP Whale Offloads 26 Mln Tokens As Ripple’s Extended Deadline Nears appeared on BitcoinEthereumNews.com.

In a thrilling turn of events, XRP, a cryptocurrency backed by Ripple Labs, birthed a torrent of speculative buzz across the broader crypto market on Tuesday, February 20, following the surfacing of significant whale activity across the crypto horizon. Intriguingly, this whale transaction, showcasing the transfer of nearly 26 million tokens, gained additional traction among crypto market enthusiasts as Ripple’s extended deadline for remedies-related discovery from February 12 to February 20 neared. Meanwhile, Ripple’s token traded primarily in the green today, although it dipped briefly, per CoinMarketCap’s data. This comes in contrast to the whale’s massive dump to a Luxembourg city-based CEX, varying from usual market sentiments of a dip in price with the rise in supply. The derivatives data for the token further signaled an uptrend within the market, birthing additional inferences for XRP. XRP Whale Continues Dumping Amid U.S. SEC vs Ripple Legal Crosshair Intriguingly, an XRP whale, going by the address …Rzn, appears to have offloaded significant amounts of XRP to CEXs over the past few days. The whale’s dumping chronicle steadily increased following Judge Netburn’s order on Ripple’s motion to extend the abovementioned deadline. This seems to have piqued the interest of crypto market traders and investors worldwide. According to the data revealed by the blockchain tracking platform Whale Alert, the aforestated wallet address shifted 25.90 million XRP, worth $14.56 million, to Bitstamp, a centralized exchange. This XRP whale’s transfer to Bitstamp emerged as a recurring phenomenon within the crypto realm ever since Ripple’s strategic stake acquisition in the mentioned CEX. However, today’s massive dump has failed to push the token’s price down, nabbing significant attention across the market. The derivatives data offered by Coinglass further showcased an uptrend when aligned with today’s price jump, as XRP’s open interest and volume noted an uptick of 3.89%…

---

Filed under: News - @ February 20, 2024 11:14 am