Kenne Michael 
Whale Alert, a platform for monitoring cryptocurrencies, has just disclosed information demonstrating massive whale transfers involving the XRP token as of today, November 14.
Crypto investors and traders were mesmerized by the whale transaction, as the token unexpectedly ignited a commotion in the broader crypto markets shortly after that.
XRP, a cryptocurrency backed by Ripple Labs, is once again generating considerable interest in the crypto community due to its volatile price fluctuations resulting from rumors of a fake spot ETF and schedules for remedies discovery and briefing regarding the Ripple and US SEC lawsuit.
Whale XRP Transfer to CEX
An unidentified wallet, r4wf7enWPx…5XgwHh4Rzn, reportedly transferred 24 million XRP to Bitstamp, a Luxembourg City-based digital asset exchange, as disclosed by Whale Alert.
The value of the transferred tokens at the time of writing was $15.61 million.
A possible indication of a sell-off is the transfer of coins to CEX, given the increase in the quantity of tokens in circulation.
Nevertheless, several crypto enthusiasts have been intrigued by the fact that the same wallet has reorganized colossal amounts of XRP to date.
In addition, the price increased by 15% shortly after the whale transferred coins to Bitstamp, demonstrating an atypical consequence of token deposits to exchanges.
It was discovered that this respective price increase was associated with a fake spot XRP ETF sponsored by BlackRock that appeared on the registration website for investment trusts in Delaware.
Understanding the XRP Price Flux
At the time of writing, the price of XRP has increased marginally by 1.85% in the past twenty-four hours, reaching $0.6645.
Nevertheless, according to market charts, the price has declined 3.99% over the past seven days.
In addition, the trading volume increased by an astounding 221.99% at the time of writing.
The price fluctuations mentioned above correspond with the recent declarations made by Blackrock and Judge Torres regarding the Ripple lawsuit’s remedies discovery and briefing, as well as the fraudulent filing of the token’s trust on Delaware’s investment trusts registration website.
