In a captivating development within the cryptocurrency market, a significant amount of 390.87 million XRP tokens was transferred today to Bithumb, the second-largest exchange in South Korea.
This transfer, which was disclosed by
Whale Alert, involved approximately $201.1 million worth of XRP moving from the wallet address "rDxfh" to Bithumb's address "rrsSU."
Upon further investigation, it was discovered that the sender's address is linked to Bithumb and has been active for over four years.
After the transfer, the sender's address was left with a minimal balance of 19.99 XRP, while the recipient address now holds 553.17 million XRP.
This significant movement of XRP aligns with its rise as one of the top three tokens traded on Bithumb, accounting for 7.44% of the exchange's total turnover of $941 million.
This places XRP behind only Bitcoin (BTC) and USDT in terms of trading volume.
It is worth noting that this transaction occurs amidst recent market fluctuations, where XRP's price hit a low of $0.4188 before experiencing a notable recovery.
With increased activity from Korean investors and large-scale transfers of XRP taking place, there is a keen interest in observing how XRP's price will evolve in the upcoming days.
As market participants analyze the implications of this substantial movement of XRP, attention is drawn to the potential impact on market dynamics and investor sentiment.
