U.Today - In a surprising turn of events, has revealed a massive transfer of 22.8 million XRP tokens, valued at $14.23 million, from an undisclosed wallet to Bitstamp, one of the crypto market's oldest exchanges.
The mysterious wallet, created just this January, has a track record of multiple transactions involving both Bitstamp and Mexican exchange Bitso.
Intriguingly, both platforms share a common thread — they are avid users of Ripple services, particularly the Ripple Payments service, and boast a longstanding collaboration with the renowned crypto company.
Notably, the anonymous wallet still retains over two million XRP, raising speculation about its potential affiliation with . The timing of this substantial transfer, which may be related to Ripple's operations, raises eyebrows as it precedes a noteworthy dip in XRP's value.
In hours of the transfer, the plummeted by 8.1%, revisiting levels last witnessed in early December.
XRP to USD by data reveals that this downturn resulted in a staggering $5.55 million in liquidations for long XRP positions, constituting a significant 97.7% of all liquidations — both short and long — over the past 12 hours.
Currently trading at $0.623 per token, the XRP community is left in suspense, grappling with the question: Is this the onset of a panic or a golden opportunity to seize discounted assets?
The market now stands at a crossroads, and all eyes are fixated on the unfolding events. As holders grapple with uncertainty, the community eagerly awaits further developments to decipher whether this is a crisis or an opportune moment to seize. The unfolding saga promises to reveal itself in the coming days.