As reported by Whale Alert, nearly 300 million XRP had been moved between completely different wallets final night time, with Ripple and the Bitstamp change account amongst them.

🚨 🚨 🚨 100,000,000 #XRP (34,716,744 USD) transferred from Ripple to unknown wallethttps://t.co/52UDbJ96o9

— Whale Alert (@whale_alert) December 25, 2022

Curiously, the $100 million XRP despatched on to Ripple remained within the recipient’s pockets. The switch of $12 million in XRP to Bitstamp, nevertheless, was a part of a $52.3 million shift beforehand made between two unknown wallets.

Massive transfers of XRP between Ripple and exchanges are sometimes seen by many as a sign of a potential inflow of tokens into the market and a collapse in its value, given the 43.7 billion XRPs held within the crypto firm’s pockets.

XRP value reacts positively

This time, nevertheless, the change of location of 300 million XRP didn’t flip the token citation into the crimson however as a substitute coincided with a really constructive value occasion.

The XRP value managed to retain the essential degree of round $0.35 per token once more. This zone, as U.As we speak has repeatedly identified, is a key assist for the XRP value.

After the token was purchased in an essential zone, beneath which patrons don’t enable the value to fall, XRP quotations have efficiently bounced again, and the asset now exhibits the most effective return within the final 24 hours among the many 10 largest cryptocurrencies by market capitalization.