- Whale Alert revealed that an unknown whale possessing XPR had made a move towards Bitstamp.
- The XPR, as mentioned earlier, the whale made the headlines by taking out 49,999,995 XPR tokens from his account, leaving just 25 XPR tokens.
A tweet from Whale Alert revealed that an unknown whale possessing XPR had made a move towards Bitstamp. The whale moved nearly 50 million XPR to an exchange address, which can be used for liquidation.
— Whale Alert (@whale_alert) January 28, 2020
In cryptocurrency terminology, a whale is someone who owns a lot of a certain kind of cryptocurrency. This means an XPR whale has a lot of XPR tokens in his possession.
However, it is common practice for cryptocurrency owners to invest in emerging cryptocurrency. They also tend to move away from a cryptocurrency that is going to fall.
The XPR, as mentioned earlier, the whale made the headlines by taking out 49,999,995 XPR tokens from his account, leaving just 25 XPR tokens. This act has led to some criticism, and many people said that this sell-off is going to happen.
People criticized Ripple for having an unstable foundation, and the token sales data for the month made it even worse. However, some people also came forward to buy XPR after the dip in its value. Still, most people are angry, and this might lead to a dump.
If you see the chart depicting the value of XPR, it shows continuous growth. But on comparing it to Bitcoin growth, you will notice that it is going down in terms of value. If we look at the stats, we find that XPR is showing a growth rate of 2.08 percent across the charts daily.
When compared to Bitcoin, it is going down at a rate of 2.31 percent. Irrespective of this fact, the market seems to be focused on the 2.08 percent growth rate of XPR.
The amount of XPR moved to Bitstamp total to around $11.6 million. The value is small as compared to the total cost of XPR in the market. Still, people might consider this move as a red flag and might start selling their XPR and move to other altcoins.