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HomeCrypto NewsMarketRipple Moves 100M XRP, While Whales Transfer 187M

Ripple Moves 100M XRP, While Whales Transfer 187M

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Whales’ XRP movements are on the increase.

According to the cryptocurrency tracking platform Whale Alert, a hefty amount of XRP tokens were moved in a few hours. The transactions were conducted mostly by unknown whales. It is interesting to note that Ripple was also involved in the latest round of large XRP transfers. 

Data provided by Whale Alert shows that the blockchain company transferred a whopping 100 million XRP tokens to an unknown wallet. At the time, the transaction was worth $49.16 million. 

Rationale Behind the Transaction

The recipient’s identity was unknown in the hours leading up to press time. However, the transfer is expected to be related to the blockchain company’s On-Demand Liquidity (ODL) solution. There is a possibility that Ripple made the transfer to a client of its ODL solution. It is worth mentioning that Ripple’s ODL uses XRP as a bridge currency for cross-border settlements. 

Other Huge XRP Transfers

Aside from the 100 million XRP moved by Ripple, other whales were reported to have transferred an immense amount of 187,784,164 XRP in the last three hours.

An anonymous whale transferred 20 million XRP worth $9.96 million to an address on the Philippines-based cryptocurrency exchange,

A few minutes later, 27,791,564 (27.79 million) XRP, valued around $13.87 million, were withdrawn from Bitstamp to an unnamed cryptocurrency wallet.

Whale Alert also tracked the movement of 30 million XRP ($15.05 million) to an address on the Bitstamp cryptocurrency exchange.

44,992,600 (44.9 million) XRP were withdrawn from Bitstamp by an anonymous whale. The fund was worth $22.52 million at the time of the transaction.

Furthermore, 30 million XRP were deposited to a Bitstamp address by an unknown whale, while another Ripple whale withdrew 35 million XRP tokens.

In the last 24 hours, 287,784,164 (287.78 million) XRP were moved in seven different transactions. The funds were valued at $92.93 million at the current exchange rate.

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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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