Ripple Whale sends 31 million XRP tokens to Bitstamp

Who exactly is hiding behind the wallet that belongs to the whale is unclear. However, Whale Alert has been able to link the same wallet to large quantities of XRP that have been sold in the past. Will the XRP price collapse if the wallet is sold?

 

Crypto News: Ripple Whale sends 31 million tokens of XRP to Bitstamp

In the past, millions of tokens have been ejected with the same XRP wallet. There are currently at least 31 million tokens (total value of $8.5 million) on the associated Bitstamp Exchange Wallet.

It is assumed that the wallet either belongs directly to Ripple or comes from the company’s immediate vicinity. It is possible that Ripple intends to generate additional funds with a new sale. Another possibility would be that one of the few external whales wants to sell its XRP. In either case, a sale of this size is unlikely to be good for the price.