Crypto Whale Sells XRP, This Is The Impact On Investors!

XRP crypto assets. (Photo; Doc. CoinCheck)

JAKARTA - In the midst of uncertain crypto market conditions, Ripple's digital currency, XRP, is experiencing a series of massive sales by big players, known as whale or crypto whale.

Whale action sparked investor attention regarding its influence on the price of XRP. Whale Alert, a large transaction tracking platform, noted the transfer of more than 25 million XRP tokens to the Bitstamp crypto exchange, involving 25.5 million XRP worth around $14.75 million (approximately IDR 229.61 billion) which was moved through an anonymous wallet.

This transaction indicates a large number of sales that can push the price of XRP into a negative zone. Previously, similar transactions also occurred on Bitstamp with 26.2 million XRP tokens worth 15.16 million (around Rp236.07 billion) which were sold by unknown wallets.

Other major transactions were listed on Bitfinex, one of the leading crypto exchanges, which surprised the XRP community. Bitfinex CTO, Paolo Ardoino, responded by stating that the incident was a 'Twist Payment Attack' (Partial Payment Attack), reported by CryptoPotato. However, Whale Alert then clarified that there was an error in the interpretation of Ripple's node response, and not the attack in question.

At the time of writing, the price of XRP has decreased below about 0.2 percent in the last 24 hours. Traded at IDR 8,990 at 16:23 WIB, Tuesday, January 16.

XRP's value had fallen below $0.57 before recovering. Currently, XRP has a market capitalization of $31.16 billion (around Rp485.42 trillion), with a decrease of 1.07%. The 24-hour trading volume also decreased by 3.65% to $948.30 million (around Rp14.77 trillion).