🧐 Where did a whale migrate with $132 million in XRP, what's happening?
$XRP XRP2.2536+2.39%
A massive Ripple whale operation involving 60 million XRP, worth around $132.2 million, was recently observed on the blockchain. In this case, the sender and receiver wallets remained unknown.
Consequently, the transaction has raised speculation about its purpose.
Ripple whale makes big move Some analysts have suggested that the Ripple whale could represent an over-the-counter (OTC) sale, which typically avoids immediate market impact as it is executed offline. That is, via a cold wallet. Others believe it could be a portfolio adjustment by a large holder, commonly referred to as a whale.
We could see a major upside if the bullish momentum holds. The critical support range is between $3.62 and $4.30. A sustained break above this level could push the token towards $5.73, which would represent a significant upside. We will continue to closely monitor the market for the implications of the transaction. If the funds are returned to the economic cycle or used in large trades, it could impact market volatility in the short term. On the other hand, the OTC transaction is likely to have little immediate impact.
