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HomeCrypto NewsMarketRipple Whale Transactions Spike With Over 421 Million XRP On The Move

Ripple Whale Transactions Spike With Over 421 Million XRP On The Move

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Ripple whales continue to move vast volumes of XRP. 


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Whale Alert, the famous crypto data provider that tracks the large movement of crypto assets across various wallets, observed considerable amounts of Ripple (XRP) shuffled between exchanges and unknown wallets. 

According to Whale Alert, a total of 421,219,375 (421.21 million) XRP tokens have been shuffled between cryptocurrency exchanges and unknown wallets over the last 24 hours. At the current exchange rate, the funds were worth $379.58 million. 

The transactions mainly involved Ripple’s On-Demand Liquidity (ODL) cryptocurrency exchange partners, Bitstamp and Bitso. Based on this, it is believed that all large movements of XRP coins involving Bitso and Bitstamp are mostly ODL-related. 

The first large XRP transaction in the last 24 hours was reported precisely 16 hours ago. Per Whale Alert, 30 million XRP coins were sent to an address on the Bitstamp exchange from an unknown wallet. At the time of the transaction, the funds were worth $10.61 million. 

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Roughly 10 hours ago, Whale Alert also tracked the movement of 165 million XRP worth around $58.98 million from the FTX cryptocurrency exchange to an unknown wallet. 

A total of 30 million XRP ($10.73 million) were sent from an unknown wallet to an address on Bitso exchange, a partner of Ripple’s On-Demand Liquidity (ODL). 

In a similar development, another 40 million XRP worth approximately $14.35 million was also sent to an address on the Bitso exchange from an unknown address. 

Whale Alert also saw 40 million XRP worth approximately $14.35 million sent from an unknown wallet to the Bitstamp exchange. 

50,119,375 (50.12 million) XRP were sent to an unknown wallet from the Bitstamp exchange. At the time of the transaction, the funds were worth $17.9 million. 

Furthermore, 66.1 million XRP coins were sent from Bitso to an unknown wallet, and the funds were worth around $23.7 million. 

So a total of 421,219,375 (421.21 million) XRP tokens worth $379.58 million were shuffled over the last 24 hours.

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

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