A massive XRP transaction is turning heads among crypto traders.
The movement sent 699,999,981 XRP from the crypto exchange Bithumb to an anonymous wallet not known to be tied to any exchange, institution or crypto custody platform.
The huge transfer cost a fraction of a penny and was first discovered by the cryptocurrency ledger tracker Whale Alert. The move may represent a trader who has decided to shift the XRP to a private wallet instead of relying on the exchange for storage.
Although it’s possible the movement is Bithumb moving its crypto assets around on behalf of its customers, Whale Alert is designed to filter out internal transactions.
— Whale Alert (@whale_alert) June 3, 2020
After a flurry of transactions to start the week, both Bitcoin and Ethereum whales are now all but silent. With the crypto market trading largely sideways after Bitcoin’s big pump above and back below $10,000, traders appear to be lying in wait for the next big shift.
Zero significant Ethereum transactions have been reported by whale watchers in the last 48 hours, with a relatively small number of three large BTC transactions discovered in the same time frame.
• 2,454 BTC worth $23.3 million transferred from Binance to unknown wallet
• 1,100 BTC worth $10.7 million transferred from Xapo to unknown wallet
• 1,025 BTC worth $9.9 million transferred from Binance to unknown wallet
Meanwhile, TradingView’s aggregated technical analysis of BTC, ETH and XRP is showing divergent results at time of publishing.
Bitcoin is a “strong buy” on the 1-day and 1-week timeframes and a “buy” on the 1-day timeframe. ETH is marked as a “buy” on all three timeframes. XRP is listed as a “buy” on the 1-day chart, and a sell on the 1-week and 1-month timeframes.
TradingView uses a combination of popular technical indicators including moving averages, oscillators and pivots to forecast the trajectory of the top crypto assets.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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