Strange Activity Continues on XRP With Over 100 Million Tokens Traded Both Ways in Matter of Minutes

At the end of last week Jed Macaleb’s toxic purse, With an unusual increase in the amount of XRP transactions. Since then, trading volume has been maintained at 18.7 billion XRP in two hours. 1200% higher than usual.. But today, the weird business surrounding XRP continues, with over $ 100 million worth of XRP coming in and out of the Bitstamp exchange in just a few minutes, worth about $ 40 million.

It is worth mentioning that $ 35.26 million worth of XRP was withdrawn from another major cryptocurrency exchange, FTX, six hours before Bitstamp trading. Whale AlertsCryptographic Whale Transaction Tracking Portal.

95,000,000 #XRP Transferred from (35,259,397 USD) #FTX To an unknown wallethttps://t.co/BZ2R9pWosy

Whale Alert (@whale_alert) July 19, 2022

How does the price of XRP react to anomalous activity?

Such bizarre activity seems to have little effect on the price of XRP. This is understandable given that even 100 million XRP of today’s transactions is only 0.002% of the amount of circular tokens. Second, Friday’s anomaly, commensurate with 42% of the amount of tokens traded, could have had a positive impact as XRP prices have already risen 14% since then to this day.

However, given the general growth of the weekend market, it is almost impossible to find any secret traces here.Of course, large-scale transactions and movements of whales in the crypto market Often notify you of some imminent eventsHowever, they should not be overestimated to build investment strategies that rely solely on such statistics.