🚨🚨 $800 Million XRP Withdrawal Sparks Speculation at Leading South Korean Exchange 🚨🚨

In an unexpected move, 1.586 billion XRP, valued at approximately $800 million, was withdrawn from Bithumb, one of South Korea’s largest exchanges. Whale Alert reported that the first transaction involved 586.09 million XRP, worth $296.95 million, which was transferred to a newly created wallet labeled "rPyCQ." Two additional transfers followed, totaling 200 million XRP and just under that amount, valued collectively at $202.76 million, with the final withdrawal reaching 600 million XRP.

These transactions, sent to newly created wallets, initially raised eyebrows within the crypto community. Large withdrawals to unknown wallets are often viewed as a bullish signal, indicating that major investors are potentially accumulating XRP for long-term storage.

However, upon further investigation, accounts monitoring XRP transactions clarified that these transfers are likely internal Bithumb transactions. The 1.586 billion XRP accumulated in the new addresses appear to be part of routine housekeeping rather than purchases by high-profile investors. While the transfers may initially impact market sentiment, they are not linked to any “mysterious whales,” but rather serve operational purposes within Bithumb’s wallet management.

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