An anonymous XRP wallet has withdrawn large amounts of XRP from centralized exchanges as part of the global stock market trend.
According to a whale watching account, a whale-level address has withdrawn 12.7 million XRP (approximately $14 million) tokens from CoinOne exchange to an unknown wallet. The funds have not moved from the wallet since then.
This transaction seems to be in line with the current exit trend in the market after the rapid increase in volatility.
Previously, some Ethereum (ETH) investors had withdrawn their existing assets from the stock market, causing supply shortages in the stock markets.
XRP also seems to have been affected by the recent market correction. XRP has been in a strong uptrend for 40 days and has lost about 14% of its value in eight days.
At the time of writing, XRP is trading at $1.10, according to CoinMarketCap data.