A major cryptocurrency exchange, BitGo, has reportedly moved a significant amount of XRP, valued at $72,690,044, from its platform. This transfer sparked speculation that crypto whales were amassing the Ripple-related asset. However, blockchain analysis by XRPscan reveals that the source of this large transaction was not Bitstamp but rather another major exchange and institutional crypto custodian – BitGo itself. 🕵️♂️
While Whale Alert initially reported a transfer from Bitstamp to an unknown wallet on their platform, this information has been debunked by XRPscan. The community’s initial assumptions regarding whales accumulating XRP were quickly challenged as the source was revealed to be within BitGo. Why BitStamp is mentioned remains unclear.
Meanwhile, crypto analyst Ali Martinez points to a potential price rebound for XRP as the third-largest cryptocurrency by market cap prepares to reclaim its ground. His analysis shows a buy signal on the TD Sequential indicator, signaling a possible bullish trend reversal. 📈
Currently, XRP is trading at $2.89 after declining approximately 3% over the past 24 hours, following a substantial 13.7% drop since August 14th from its local high of $3.35.
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