Huge Alert: An Unknown A/C Receives 20,000,000 XRP Withdrawn from Top US Exchange

20,000 XRP was transferred from one of the top crypto exchanges in the U.S., Gemini to unknown addresses. The effects of the transfer are enormous. BTC and XRP prices may go up!  

The news of an anonymous XRP withdrawal has created a ruckus among the traders’ community. Around 20 million unknown tokens were shifted to an unknown account. The value of the transaction was $50.66 million.  

Such an exchange is always expected to add momentum to the market. But what’s controversial about the process is that the tokens were sent to an unknown somebody from one of the most popular US exchanges, Gemini.  

What’s more intriguing is that this unknown wallet created less than 15 days ago holds more than 43 million XRP. The value of the wallet is already a staggering $112 million. Investors are eager to know if Gemini is the actual owner of the wallet or if it belongs to an undercover shady investor!  

However, the transaction is valuable from a market perspective. Usually, withdrawals from centralized exchanges are considered a bullish trend. It barely matters whether Gemini has transferred the same amount on some of their remote accounts. Over a million people saw a whale alert in the crypto market.  

Going forward, more whales should invest in Bitcoin and keep the exchange wave alive.  

Effect on XRP Price? 

Even XRP’s price was affected as a result of the massive exchange. In just 9 minutes after the transfer, XRP’s price hiked 0.56%.  

Experts don’t know how or why the transfer triggered a ripple effect in the market. But more transfers like these will create a more positive effect on other crypto prices.