XRP could witness a massive selloff in the coming days, as shown by on-chain transfer data. According to transaction alerts from crypto whale tracker Whale Alerts, two whale-sized transactions involving XRP have recently made their way onto cryptocurrency exchanges Bitso and Bitstamp, prompting investors to ponder the reasons behind the transactions and speculate on possible outcomes. Massive transfers by whales can often increase selling pressure if they sell and take profits, which could cascade into the price of the asset, even if only temporary. Whale Transfers 50 Million XRP To Exchanges XRP has gone through consolidation for the past two weeks in the midst of a market lull. According to Coinmarketcap, the altcoin’s trading volume is also down by 43.59% in the past 24 hours. Before this period however, a whale made a transfer of 50 million XRP worth approximately $31 million to exchanges, prompting investors to wonder if this is a part of the ongoing consolidation and if the transfers are a selloff. Related Reading: Bitcoin Price Rockets Past $38,000, Hits Highest Peak Since May 2022 – Details According to Whale Aler ..
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