Massive amount of XRP purchased by this anonymous investor
An anonymous XRP wallet received a large volume of coins worth around $74 million as the asset remained in a long consolidation range.
100 million XRP purchased by a whale as coin consolidates
According to WhaleAlert, 100 million XRP was moved from the main exchange to an unmarked wallet holding over 100 million coins. The final destination of the funds is still unclear as the wallet continuously redistributes the received funds to smaller entities. Still, at the same time, it is not tied to any other exchange or an OTC trading desk.
Source: Bithomp
Since the funds were received directly from an exchange that requires KYC procedures to withdraw digital assets, the whale’s identity is most likely known to the representatives of the exchange.
The wallet’s performance shows that it may be owned by large private investors rather than by centralized or decentralized services. The most recent transaction was made on March 7, when the whale transferred 1.6 million XRP to the exchange.
XRP, like the majority of digital assets on the market, is failing to break out of the same range that we have seen on Bitcoin. At press time, XRP trades at mid-February levels, which suggests that it follows a trend of general uncertainty.
With liquidity and trading volume massively reduced in the crypto market, XRP, like other cryptocurrencies, could not break through any major resistance points such as trendline resistance or a 200-day moving average.
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