South Korea's largest cryptocurrency exchange, Upbit, has seen a large transfer of XRP tokens. Approximately 11 million XRP, valued at $28.11 million, were withdrawn from Upbit's wallet and sent to an unknown address. The address, which was activated by a transfer of 11 XRP in October, remains unidentified. Such transfers typically occur between entities associated with the cryptocurrency industry, leading to speculation that the wallet may belong to Upbit itself. The transfer has generated interest as withdrawals from centralized exchanges are viewed as a signal of accumulation by major investors. Additionally, the fact that the transfer occurred at Upbit, combined with recent volatility on the exchange, suggests bullish sentiment for XRP among Korean investors. However, further investigation is needed before making any conclusions.



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