As the Bitcoin ETF process continues to unfold, the crypto whale tracking platform Whale Alert shifted investor focus to Ripple (XRP) with a recent announcement.

Transfer:

$14.7 Billion XRP Transfer Alert Whale Alert, through their official social media platform, reported a gargantuan transfer of 25,601,477,777 XRP tokens from an unknown wallet to a user-associated wallet at the Bitfinex exchange. At the time of writing, this transfer was valued at approximately $14,859,403,329 USD.

However, subsequent data revealed that the mentioned transaction by Whale Alert failed due to insufficient balance. This disclosure of such a massive transfer in the crypto currency sparked significant interest among investors on social media. Transfers of this magnitude by whales are generally seen as potential precursors to market sell-off pressures.

“Bitfinex Under Attack” Experts emphasize that tokens transferred from non-exchange wallets to exchange-owned wallets are typically indicative of impending sales, which could lead to price corrections in altcoins.

Following the transfer news, Tether CEO Paolo Ardoino, in statements made via the same platform, indicated that the attempted transaction was an attack targeting Bitfinex. He further claimed that the popular crypto exchange Bitfinex thwarted the attack successfully, thanks to the proper functioning of the exchange’s “delivered_amount” data field.