Ripple (XRP) drops to $1.99... Anonymous wallet transfers of $100 million trigger concerns of "whale selling" spread

As the price of Ripple (XRP) enters a downward trend, a large-scale anonymous transaction worth $100 million (approximately 1.587 trillion Korean Won) has attracted market attention.

According to data from the blockchain monitoring platform Whale Alert, on December 11, two anonymous wallet addresses transferred 53.7 million XRP, valued at about $108,046,173 (approximately 1.587 trillion Korean Won). The transaction took place on the decentralized XRP Ledger network, with no connection found to any specific exchange or institution.

Such transactions have sparked various interpretations within the XRP community and among market participants. Especially given the overall downward trend in the cryptocurrency market, questions are increasingly raised about whether this “whale (large investor)” movement signals additional selling pressure or is simply a reallocation of assets.

Market analysis suggests that this transaction also contributed to XRP’s price decline. XRP fell approximately 4% during the day, breaking below the important support level of $2 (approximately 2,944 Korean Won), retreating to $1.99 (approximately 2,929 Korean Won). Meanwhile, trading volume surged by 18.59% compared to the previous day, which is interpreted as fueling short-term selling or panic.

Since this transfer occurred between addresses unrelated to exchanges or custodians, its nature remains unclear. Experts explain that this transaction may be a preemptive move for large-scale future market purchases or a security measure for dispersing holdings.

Nevertheless, some investors remain optimistic, believing this correction is temporary and that XRP will resume its upward trend. The initial target price of $2.50 (approximately 3,680 Korean Won) remains valid, and opinions supporting this continue to be expressed.

Summary by TokenPost.ai

🔎 Market Interpretation

XRP shows a price decline accompanied by large whale transactions, breaking away from technical support levels. Transfers of hundreds of billions of Korean Won between anonymous addresses have stirred market unease and are acting as short-term bearish factors.

💡 Strategy Highlights

It is necessary to continuously monitor trading volume growth and wallet movements to determine whether whales are selling. Compared to short-term technical rebounds, whether the overall market condition can recover will be a key factor for XRP’s core strategy.

📘 Terminology Explanation

• Whale: Refers to large investors holding substantial amounts of cryptocurrency

• XRP Ledger: Blockchain network based on Ripple (XRP)

• Anonymous wallet: Blockchain address with undisclosed owner

TP AI Notes

This article summary is generated using a language model based on TokenPost.ai. The main content of the article may be omitted or may differ from the actual facts.