Bitstamp Receives 25 Million XRP From Ripple Whale Wallet

Bitstamp receives 25 million XRP from the Ripple whale wallet since the whales are also looking for a fiat position as per the recent ripple xrp price news.

The latest whale transaction shows a tranche of 25 million XRP coins which Bitstamp receives as they moved a day after Bitcoin getting a massive sell-off which sent it crashing under $8,000. The origin of the XRP coins was worth more than $5.2 million and the coin was distributed to a few early adopters and is still distributed as a reward for most of the Ripple partners. The biggest source of the coins is the Ripple escrow which left more than 100 million XRP for itself and returned the other 90 percent of the tranche.

As per the ripple price news, the platform warned that it doesn’t intend to sell XRP, has done it previously in the past and the asset is still suffering from the pressures which were enhanced by the overall market sell-off. Looking at the wallets, the latest tranche of XRP that came to Bitstamp was activated by BitGo back in 2019 and the wallet sent the XRP tokens to Bitstamp on a few occasions as well during 2019.

The Bitstamp exchange which is based in the European Union is one of the rare reliable markets as well as one of the major sources for reporting accurate pricing information. XRP reported trading volumes above $33 million, but the real liquidity is closer to the $700,000 level. This means that any attempt to get rid of coins quickly could bring down the price. Bitstamp has a good activity which is a bullish factor for the XRP token which was forgotten during the bear market. The traders noted a shift in the influence of the exchange and Bitstamp became an important market thus replacing the demand for XRP on other Korean exchanges.

Further analysis shows that Bitstamp volumes are not a signal for trading. The exchange carries a fiat-based market which helps to direct the liquidation of XRP where some of the funds are taken off the market and will not re-enter the market again. XRP tried to reach $0.30 and the asset tried to hold the $0.24 and is now crashing to $0.21.