The XRP cryptocurrency is on the cusp of a new wave of bullishness amid Ripple Labs' success in a legal standoff with the U.S. Securities and Exchange Commission (SEC).
The crypto community is watching XRP activity with increased attention. It has been noticed that large whales have been transferring a large number of XRP tokens from multiple wallets. Such actions by whales have led to the creation of rumors and the concerns of investors due to possible insider information.
According to Coingape, whale made a transaction to transfer 26.8 million XRP tokens to the Bitstamp exchange from an unknown address. This is equivalent to $14.24 million. The increase in transaction volume has raised fears of a possible sell-off in the near future.
This is not the only large transaction. Earlier, another large transfer of 20.40 million XRP tokens from an unknown wallet to the Bitso cryptocurrency exchange was recorded. In dollars, this is equivalent to $10.83 million.
When capital is deposited on the exchange, it indicates that investors want to sell their assets. When funds are withdrawn from a crypto exchange, it means that investors intend to hold the crypto asset and benefit from its appreciation.
Despite the observed speculation, the Ripple cryptocurrency is showing significant growth amid positive news from the Ripple ecosystem.
Read also: Positive news in the standoff with the SEC led to a 5.2% rise in XRP.
