Ripple whales move more funds away from exchanges following the global outflows trend
An anonymous XRP wallet address has withdrawn many tokens from centralized exchanges as part of a global exchange cash flow trend. At the time of writing, Ripple native token is changing hands at $1.09.
XRP/USD 4-hour chart | Source: TradingView
Ripple whale moves $14 million from exchange
Whale Alert said a whale-level address withdrew 12.7 million XRP from the mid-tier CoinOne exchange into an unknown wallet. The money did not transfer from the receiving wallet.
Source: Whale Alert
Trades in the fast-growing money flow trend are now in the market after a rapid increase in volatility. Previously, on-chain data showed that Ethereum traders were draining the exchange’s supply by moving away from most existing assets for undisclosed reasons.
Ripple is not immune to the global crypto correction in the markets over the past few days. Ripple has lost about 14% of its value in just eight days while previously turning into a strong uptrend over the past 40 days.
During the most recent bull run, Ripple has gained more than 40% of its value since the beginning of October.
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