XRP Whale Moves $248 Millions Worth of Ripple Tokens, Is A Bullish Move Ahead?

XRP has gained the attention of crypto enthusiasts as whales continue to move XRP tokens. On November 1, a significant transfer of over 412.89 million tokens worth $248 million was reported by the crypto tracking service Whale Alert. As per the released information, the hefty amount of XRP tokens has been transferred from an unknown wallet to an unknown new wallet.

Recent anonymous XRP transactions

Investors and traders are eying an upward trend with the recent XRP transactions reported on Whale Alert. In the past 24 hours, many whales moved XRP tokens to anonymous wallets. Some of the reported transactions accompanied escrow unlocking from Ripple-linked wallet.

In a transaction, 400,000,000 XRP worth $239 million was unlocked from escrow. Escrow unlocked a third similar transaction at Ripple which was of 100,000,000 XRP tokens valued at nearly $59 million. Besides Escrow, Ripple also did a transaction to an anonymous wallet. The transaction was of 50,000,000 XRP (29,870,608 USD).

The aforementioned transfer, which was made in the past 24 hours, is in addition to the transfer of $14 million worth of XRP tokens, sent to Bitstamp from an unknown wallet.

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Crypto enthusiasts’ sentiments about whale activities

Notably, the recent transfers predict that XRP to continue to derive support from ongoing optimism that its issuer Ripple Labs will win its ongoing lawsuit against the SEC. This current trend of XRP is also pushing investors to hold a positive approach towards the Ripple XRP market, as it is witnessing a strong bullish sentiment, aiming for rapid progress for Ripple XRP.

However, a section of the crypto community is rife with speculation about a potential link between one of these anonymous wallets and Ripple Labs. These consecutive transactions underscore a trend where whales are amassing XRP tokens in millions, an activity that has been reported on a regular basis for the past few weeks.

XRP price currently trading at $0.59968864. Its 24-hour trading volume is $1,738,778,807 and has plunged -1.01% in the previous 24 hours. In addition, XRP’s live market cap is $32,119,628,590.

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