Amid today’s tumultuous trading session in the cryptocurrency market, XRP, one of the largest tokens by market cap, has seen a notable rise of over 3.5%. This increase coincides with a notable increase in trading volume, as reported by CoinMarketCapindicating a staggering 43% increase compared to the previous day, for an impressive total of $3.76 billion.
Amid today’s tumultuous trading session in the cryptocurrency market, XRP, one of the largest tokens by market cap, has seen a notable rise of over 3.5%. This increase coincides with a notable increase in trading volume, as reported by CoinMarketCapindicating a staggering 43% increase compared to the previous day, for an impressive total of $3.76 billion.
However, what steals the spotlight from the current market activity is the news surrounding South Korea’s leading cryptocurrency exchange, Upbit. Reports of Whale alert have revealed a significant withdrawal of 18 million XRP tokens, valued at approximately $10.7 million. The tokens were quickly transferred to an undisclosed wallet, leaving observers to ponder the motives behind this substantial move.
These substantial withdrawals from exchanges often hint at strategic accumulation or storage of assets in separate wallets, suggesting possible bullish sentiment among investors. On the contrary, movements of tokens towards exchanges usually indicate a predisposition to sell.
Amid this major pullback, XRP’s upward trajectory remains unbreakable, with its price skyrocketing to $0.596 following the transfer. Notably, XRP controls a significant portion of trading activity on Upbit, accounting for 5.61% of the exchange’s total turnover and securing fourth position in terms of trading volume on the platform.
This substantial influx of trading volume and notable Upbit pullback underscore the growing interest and activity around XRP, even amid broader market volatility.
