$69,536,183 XRP Transfer Stuns Major U.S. Crypto Exchange

Massive XRP whale makes transfer to Coinbase, coinciding with bullish price trajectory

On May 9, blockchain monitoring firm Whale Alert identified a massive transfer of 29,532,534 XRP, worth $69,536,183, to leading U.S.-based crypto exchange Coinbase. This large transaction has raised eyebrows as it coincides with the ongoing bull market run, prompting investors to closely monitor on-chain activities. Whales already dumping? According to the data, the massive transfer was executed by an unknown wallet address in a single transaction, suggesting a possible sell-off attempt.

Despite the transfer, XRP continues to exhibit strong bullish indicators. Over the past 24 hours, CoinMarketCap data shows that XRP has experienced a 3% daily surge, following an 8% gain the day prior. As of press time, XRP is trading at $2.35.

In addition to the price uptick, XRP has also recorded a 60.35% surge in trading volume, reflecting heightened activity among both retail and institutional traders. While large transfers to exchanges are often associated with intent to sell, this specific transfer has the XRP community questioning whether whales are starting to take profits after the recent bull run.