According to data from Whale Alert, an XRP whale has decided to withdraw its holdings from a centralized exchange.
The data reveals that there was a large transfer between two addresses. As of now, the funds continue to reside at another address of the whale, without moving anywhere. When users withdraw their assets from the stock market, they tend to prefer holding them longer rather than selling them on the stock market if there is an increase in market volatility.
XRP has been trading around $1 for a while. For this reason, “stablecoin” is used for XRP in the crypto community. XRP has been moving in the $1 range for over three months and periodically tests new highs.
The last positive price action for the asset occurred on November 9. The value of XRP briefly reached 1.30 but later dropped to $1.03.
XRP is trading at $1.05 at the time of writing, according to CoinMarketCap data.