 ▲ XRP (XRP), whale/ChatGPT-generated image |
Cryptocurrency whales have poured 50 million XRP (XRP) into exchanges within 24 hours, signaling strong downward pressure on the market.
According to crypto-focused media outlet U.Today on February 16 (local time), blockchain data tracking service Whale Alert recently detected large inflows of XRP into major cryptocurrency exchanges. In just one day, approximately 50 million XRP was moved from private wallets to exchanges, heightening investor tension.
Looking at the detailed transaction records, two large transfers occurred in succession. First, 26,702,102 XRP—worth about $28,995,335—was sent from an unidentified whale wallet to the cryptocurrency exchange Bitstamp. Shortly after, another anonymous wallet deposited an additional 23.3 million XRP into the Mexican crypto exchange Bitso, increasing the circulating supply on the market.
What draws particular attention to these transfers is that Bitstamp and Bitso are key partners of Ripple’s core payment solution, On-Demand Liquidity (ODL). Ripple has worked closely with these exchanges to enhance cross-border payment efficiency, and the market is divided over whether this movement represents simple sell-offs or operational funds aimed at securing payment liquidity.
Typically, large inflows of cryptocurrency into exchanges often precede sell-offs, raising concerns about heightened short-term price volatility. Whale movements act as a strong signal that can threaten psychological support levels in the market, and an increase in available supply on exchanges is likely to translate into immediate selling pressure.
Currently, XRP investors are closely watching growing institutional interest and technological developments of the XRP Ledger. However, whether this large-scale transfer will lead to actual selling pressure or serve as funding for the expansion of Ripple’s payment infrastructure is expected to be a key variable determining the token’s future price direction.
*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses incurred based on this information. The content should be interpreted for informational purposes only.*