- Ripple stirs the market with XRP dumps.
- XRP lost over 5% with consecutive declines.
According to data by Whale Alert, Ripple transferred 46,340,000 XRP to an unknown wallet on the 30th of January, amounting to over $24.7 million at press time.
Further analysis by AMBCrypto divulged that this transfer was not new — it had been going on for the past few days.
On the 28th of January, 27.7 million, valued at over $14.4 million, were moved from an unknown wallet to Bitstamp.
Similarly, on 29 January, 27.1 million XRP, worth over $14.5 million, were transferred from an unknown wallet to Bitstamp.
In summary, over 100 million XRP assets have been transferred to exchanges in the last three days, presumably for sale.
XRP responds to recent developments
AMBCrypto’s examination of XRP’s volume on Santiment showed a noticeable increase starting from the 28th of January, coinciding with the first significant transfer observed.
On this date, the altcoin’s volume on 28 January had reached $493 million. Subsequently, it rose to over $900 million on the 29th of January and climbed to $1.2 billion by the 30th of January.
As of this writing, the volume was over $1.8 billion, indicating a substantial rise in trading activity over the past three days.
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Author: Adewale Olarinde
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