An unexpected ripple has spread across the cryptocurrency market as XRP became the focus of a significant transaction reported by Whale Alert. Over 30.17 million XRP, worth about $80.6 million, were moved in one go from an unknown wallet called “rUvEC” to a Coinbase address called “rRmgo.”
What does a transaction like this signify? Opinions are split. A transfer of this scale to a major exchange often triggers concerns about a potential sell-off. The logic is straightforward: a large unknown holder might intend to sell their XRP into fiat or other assets, which could pressure prices.
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But if it is the other way around, and the cryptocurrency is leaving the exchange, it could mean a whale is acquiring assets to store them safely in their own wallet, which is a strategy often linked to long-term confidence.
Within the XRP community, accounts like XRPWallet have pointed to the possibility of an internal Coinbase transfer. In such a scenario, the event might be purely operational, unrelated to individual trading decisions.
Still, it serves the public with a message that stirs emotions and controversy as the market reacts to perception as much as reality. Even the faintest signal of potential market-shaking activity can influence sentiment.
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It does not help that these events are often unclear, leaving traders to piece together incomplete information. This particular transfer, while mysterious, may ultimately prove to be no big deal — but it has already sparked plenty of attention.
Even though things are a bit up in the air, XRP is still holding strong. The cryptocurrency has gone up by more than 7.2% since the start of the day.
Source: https://u.today/80-million-xrp-transfer-stuns-major-us-exchange-coinbase