A whale address was discovered transferring over 52 million XRP to Bitstamp and Bitso exchanges for sale today by Whale Alert, worth a combined $32 million.
XRPL explorer Bithomp reveals that the wallet is likely owned by Ripple, the company behind XRP, sparking fears that bigger dumps could be on the way and that the price might spiral.
Crypto markets, while open to the general public, are largely determined by the few large holders. So, whenever a whale dumps a significant amount of any crypto, the wider community becomes concerned that it could trigger a price dip. The latest whale to dump is in XRP, and one data portal shows that the address belongs to Ripple, the company supporting the XRP ecosystem’s development.
The first transfer was 25.4 million XRP to a Bitstamp exchange wallet address. This transfer was worth $15.6 million at the time.
25,400,000 #XRP (15,611,475 USD) transferred from unknown wallet to #Bitstamphttps://t.co/EknzSRCqBD
— Whale Alert (@whale_alert) Novem

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