A significant $XRP transaction has attracted considerable attention in the cryptocurrency market following the transfer of approximately 29,532,534 XRP valued at around $68.7 million to Coinbase on April 28, according to on-chain monitoring service Whale Alert. The origin of the funds is an unidentified wallet.#Whale.Alert
Such high-volume transfers to centralized exchanges are commonly interpreted as potential indicators of imminent sell pressure, particularly when executed by large holders, or “whales.” These movements often contribute to increased market volatility and can trigger short-term price corrections.
Crypto analytics firm Alva commented on the development via a post on X, noting a growing divide within the XRP trading community. While some market participants anticipate a rapid sell-off, others maintain a bullish outlook, citing sustained investor interest amid exchange-traded fund (ETF) optimism and ongoing favorable legal developments involving Ripple.
Alva further cautioned that market volatility could escalate sharply if liquidation commences. Nonetheless, they posited that substantial institutional engagement and prevailing positive sentiment related to potential #etf inflows may mitigate the adverse effects of any large-scale token distribution.
Meanwhile, $SIGN experience a significant price surge from it closing price around $0.664 28th of April and it currently trading around $0.117 with over 500% increase in a 24 hour daily timeline.(Source: Via BingX)
