The platform Whale Alert, known for tracking large crypto transactions, has detected a massive transfer to one of the leading cryptocurrency exchanges.
According to the latest data, XRP worth $10.3 million was moved from an unknown wallet to the Bitstamp exchange.
Some within the community interpret this as a potential sign of a coming price drop. At the time of writing, XRP, the cryptocurrency associated with Ripple, is trading at $0.54, based on data from Coinmarketcap.
This is the first XRP transfer to Bitstamp registered by Whale Alert since October 8, when a similar transaction was made to the exchange.
In September, Ripple co-founder Chris Larsen also caused concern within the XRP community with his recent transfers.