XRP Transfers Hit Mega Millions, Possible Reasons.

XRP is currently facing a bearish sell-off,
on the assumption that major whales are
moving funds to exchanges to sell. This
trend was spotted by crypto data insights
provider Whale Alert, which showed three
successive transfers featuring 100,000,000
XRP initiated internally from Ripple Labs,
23,400,000 XRP and 24,700,00 XRP moved
to Bitstamp and Bitso, respectively.

100,000,000 #XRP
(66,074,002 USD) transferred from unknown wallet to unknown.

With the exact motive behind these
transactions obscure, they generally
underscore how ripe XRP is for profit-
taking, a sentiment that justifies the move
of the last two to trading platforms. Per the justification, XRP has been on a major
rampage in recent times, with its price soar ing as high as 30.12% in the past month.

Amid the broad buyer excitement, XRP
touched a high of $0.72, its highest level
since July, when Judge Analisa Torres
declared in a landmark ruling that its
programmatic sales on secondary
marketplaces do not constitute a security.
With the mega run, most long-term XRP
holders felt the need to scrape off some
gains as a reward for their gruesome
HODLing experience through the SEC
lawsuit.

At the time of writing, XRP is changing hands at $0.6514, down by 6.55% in the past 24 hours.

Imminent XRP recovery.

Despite the threat of a sell-off by major XRP whales and the accompanying price slump, hopes for an imminent recovery are high. This is because the key triggers that fueled the earlier rally in the year are still largely existent, and as such, will play a role in reshaping investor thrills in the coming days.

Besides the victory in court that XRP,
Ripple Labs and the company's executives
have inked in recent times, advances on
the XRPL are worth watching as they bring
real-world utility that can effectively drive
demand for XRP in the long run.