While Bitcoin (BTC) and altcoins faced a downtrend before the FED decision, approximately $12 million in cryptocurrency was transferred from wallets associated with FTX and its sister company Alameda Research. PeckShieldAlert reported that addresses linked to FTX and Alameda moved 5 vBTC valued at $7 million to Wintermute and transferred 10 million WXRP valued at $5.2 million to Binance. The reasons behind these transactions remain uncertain, prompting market analysts to consider potential customer refund implications.

The exact holdings of XRP by FTX are undisclosed, but reports from September revealed over 225 million XRP held by the bankrupt exchange. If recent XRP transfer data is accurate, the amount sent to Binance represents more than 4.44% of FTX and Alameda's total XRP reserves. The XRP price decline coinciding with FTX's transfer raised suspicions among investors regarding a possible correlation between the events, while analysts attribute the XRP drop to the overall market decline.

Analysts have advised caution to investors, warning of a potential increase in downward pressure on the XRP price due to the FTX transfer. At the time of writing, XRP has experienced a 2.4% decrease and is trading at $0.48.