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XRP Price Eyes $12.6 Million Dump Amid Mt. Gox Drama

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XRP Price Eyes .6 Million Dump Amid Mt. Gox Drama

Tue, 26/12/2023 – 8:32

XRP Price Eyes $12.6 Million Dump Amid Mt. Gox Drama
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In a surprising turn of events today, WhaleAlert reported a massive transfer of 20 million XRP tokens to a prominent volume exchange, sparking speculation about the mysterious sender and the implications for XRP’s market value. At the current price of $0.63 per XRP, this transaction amounts to a staggering $12.6 million.

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The sender’s identity remains shrouded in mystery, with WhaleAlert labeling the address as unknown. However, insights from the Bithomp explorer reveal that this enigmatic wallet was created in June 2021 and currently holds a substantial 188.88 million XRP.

Intriguingly, this wallet prefers sending tokens to the Bybit exchange, though it is unclear whether it belongs to the exchange itself.

Mt. Gox, again

The timing of this significant transfer coincides with reports of Mt. Gox, the once-bankrupt exchange, initiating compensation payments to users after more than a decade of dormancy.

Some Reddit users have confirmed receiving refunds in Japanese yen via PayPal, marking a historic development in the aftermath of Mt. Gox’s prolonged closure and repeated delays in compensation disbursement.

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XRP to USD by CoinMarketCap

This revelation has sent ripples through the cryptocurrency market, impacting major players like Bitcoin and XRP. Bitcoin plummeted to a weekly low of $42,850, while XRP experienced a 3.6% decline since the day’s opening session. Overall, the cryptocurrency market has witnessed a 1.7% drop in capitalization, equivalent to a staggering $27.7 billion.

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