A major transfer of XRP worth $55 million by a prominent Ripple whale has sparked confusion in the crypto community, resulting in a brief dip for XRP prices. Initial speculation pointed towards a potential sell-off after Whale Alert reported the transaction on October 6th. However, blockchain records revealed the transfer as an internal move from Ripple (31) to Ripple (1), linked to the “Midnight Glacier Drop” initiative by the Midnight Foundation. This action moved over 18.7 million XRP, marking a significant change after two years of inactivity. The impact on the market became evident in the form of a price drop for XRP which fell around 2% within 24 hours, reaching $2.98, before stabilizing in subsequent days.