Recently, a large XRP transfer sparked intense discussions in the crypto community, as the amount involved was tens of millions of dollars. This transfer was made from one of the largest cryptocurrency exchanges in South Korea, Upbit.
23,000,000 XRP on the Move
According to data from Whale Alert, a transfer of 23,000,000 XRP was spotted moving from Upbit to an anonymous wallet. This transfer took place approximately four hours ago, with the fiat equivalent amounting to $68,753,451. The community immediately began speculating that a large whale was making a significant purchase of XRP during the dip.
What Really Happened at Upbit
Details revealed by XRPscan show that while Upbit indeed made the initial transaction, the receiving anonymous wallet immediately transferred the 23,000,000 XRP it received to three other crypto wallets belonging to Upbit. This essentially categorized the transaction as an internal diversification XRP transfer.
XRP Market and Its Reaction
Meanwhile, the price of XRP has slipped over the past 24 hours, unable to remain above $3.08. This transfer has become a topic of discussion among traders and analysts who monitor price changes in cryptocurrencies and observe large fund movements.
The large transfer of XRP from Upbit captured community attention; however, further investigation revealed it to be an internal diversification transfer. Nonetheless, the decrease in XRP price amidst these events continues to intrigue traders.
