CandleFocus Crypto Whale Acquires 20 Million XRP From Top Korean Exchange
2024-09-15
Author: Content Editor
One of South Korea's top crypto exchanges, Upbit, has transferred 20 million XRP, worth around $11.7 million, to an unknown wallet. The transfer has sparked speculation about the intentions of the whale behind the acquisition. Large transfers from exchanges to wallets are often seen as bullish signals, suggesting potential buying and safeguarding assets in cold storage. This move could limit supply on exchanges, potentially driving up demand and price. XRP has been in the spotlight recently due to developments in the Ripple lawsuit, where Ripple successfully reduced the SEC's demand by 94%. South Korea remains a major hub for XRP trading.
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