Whale Moves Significant Amounts of XRP & ETH to Exchange, Triggering Altcoin Sell-Off Wave

Leading exchanges witness massive inflow of funds into ETH & XRP just before the altcoin crisis unfolds in the cryptocurrency world.

The fifth-largest cryptocurrency, XRP, stood out on Monday this week when a significant whale transferred a staggering 28.6 billion XRP (almost $15 million) to Bitstamp, a popular centralized cryptocurrency exchange (CEX).

The amount was valued at $14,757,546 at the time of the transaction.

Eleven hours later, the cryptocurrency whale monitoring unit, WhaleAlert, detected an even larger transaction, with 13,198 ETH sent to Coinbase.

The most popular U.S. cryptocurrency exchange received a substantial inflow of funds amounting to $32,006,255. ETH was priced at $2,426.2 at that time but later experienced a sharp decline to $2,369.

Both Ether and XRP depreciated by 4.20% in the last 24 hours. While ETH continued a slight upward trend on the monthly chart, XRP has been trading in a downward parallel channel for the past 30 days, with a cumulative monthly decrease of 14.7%.

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