Ripple’s XRP, once basking in the glow of last week’s gains, has plunged back into the doldrums as massive selloffs and whale movements ignite a storm of uncertainty. At the center of the turbulence lies a colossal 80 million XRP transfer by Ripple itself, sending shockwaves through the community and raising legal eyebrows.
The staggering transaction, valued at $46 million, saw the tokens discreetly whisked away to an undisclosed wallet, according to blockchain tracker Whale Alert. This sudden shift, coupled with another whale offloading 25.7 million XRP to Bitstamp, fueled fears of an imminent fire sale, potentially pushing the price further south.
Ripple’s XRP Sell-Off Sparks Regulatory Uncertainty
Ripple, currently holding only 46.34 million XRP after its recent offload, has sparked speculation with this bold move. Legal eagle Bill Morgan shed light on the potential implications, acknowledging that while selling XRP isn’t forbidden, the looming shadow of the US Securities an
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