Wednesday, November 30, 2022
HomeCrypto NewsMarketRipple Whales Move 226 Million XRP in Four Transactions  

Ripple Whales Move 226 Million XRP in Four Transactions  

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Massive amounts of XRP have continued to be shuffled by Ripple whale investors. 

Whale Alert, a platform that tracks large cryptocurrency transfers, has observed yet another movement of hundreds of millions of Ripple (XRP) over the past 24 hours. The transactions were made by unknown whales. 

In the past 24 hours, these unknown whales transferred a total of 226,378,630 million XRP worth $180.77 million, at the current exchange rate. 

Nine hours ago, Whale Alert observed the movement of 26 million XRP ($10.98 million) from an unknown wallet to Ripple’s On-Demand Liquidity (ODL) partner Bitstamp. 

A total of 60,378,630 (approximately 60.38 million) XRP were also transferred from Bitstamp to an unknown wallet earlier today. The funds were worth $27.11 million at the time of the transaction. 

An anonymous whale transferred 60 million XRP to the Bitstamp exchange a few moments later, with the funds valued at around $26.94 million. 

A Ripple whale also moved a massive amount of XRP to an unknown wallet from the FTX exchange in the early hours of today. According to blockchain data, the anonymous user withdrew the sum of 80 million XRP from the exchange. The funds were evaluated at roughly $35.56 million. 

XRP Price Dips 2% in 24 Hours

The latest round of XRP transfers comes when the price of XRP has started losing gains from last week’s rally. Recall that XRP spiked to a 4-month high of $0.53 last week. 

XRP gained momentum after it was speculated across various social media platforms that Judge Analisa Torres would likely rule in favor of Ripple in its ongoing lawsuit with the Securities and Exchange Commission (SEC)

At press time, XRP is currently changing hands at $0.43, down 2.5% in the last 24 hours, according to data from cryptocurrency aggregator platform Coingecko


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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.

Disclaimer: The content is for informational purposes only, may include the author's personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

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