Monday, December 5, 2022
HomeCrypto NewsMarketUnknown Whale Moves 239M XRP Alone, 411M XRP On Move In Total

Unknown Whale Moves 239M XRP Alone, 411M XRP On Move In Total

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An unknown whale moved a whopping 239 million XRP in one single transaction.


XRP whales have been more active recently, shuffling huge amounts of cryptocurrency in different transactions. In the late hours of yesterday, Whale Alert reported the movement of 239 million XRP from an unknown wallet to an anonymous address. At the time of the transaction, the enormous 239M XRP coins were valued at $90.9 million.

A few hours after the transaction, the recipient of the coins was seen moving tens of millions of XRP in different transactions. This brought the wallet’s XRP balance to 9M XRP ($3.43 million at the current exchange rate), according to Bithomp data.

Other Large XRP Transfers

Aside from the 239 million XRP coins transferred, Whale Alert also reported other hefty XRP movements in the past 24 hours. 

Roughly seven hours ago, a cryptocurrency whale moved 30M XRP coins worth $11.5 million to an address on the Bitstamp cryptocurrency exchange.

A few minutes later, Whale Alert reported a hefty withdrawal of 42,231,481 (42.23 million) XRP from the Bitstamp cryptocurrency exchange. At the time of the transaction, the coins were valued around $16 million.

In a similar development, nearly 40 million XRP coins were also withdrawn from Bitstamp. According to Whale Alert, an anonymous whale transferred 39,999,550 XRP worth $15.21 million to an unknown address.

An anonymous whale also deposited the sum of 30M XRP ($11.49 million) to a wallet address affiliated with the Bitso cryptocurrency exchange. 

In the hours leading up to press time, an anonymous whale transferred 30 million XRP ($11.38 million) from Bittrex to an unknown wallet address. 

Following the above transactions, whales have moved a 411,231,031 (411.23 million) XRP, worth $262.88 million at the current exchange rate.

XRP Set for A Rally Above 40 Cents

XRP is trading at $0.3793, down 1% in the past 24 hours. On month-to-date, XRP is down 18% following the collapse of the FTX exchange. The cryptocurrency is still struggling to find its feet to surge above $0.40.

Positive events in the ongoing Ripple vs. SEC lawsuit could help XRP surge past 40 cents in the coming days. Recall that Judge Torres approved 11 entities to file amicus curiae briefs in the Ripple vs. SEC lawsuit. Nine of the 11 entities support Ripple’s case against the Securities and Exchange Commission. These amicus briefs are expected to convince the Judge to rule that XRP is not a security.

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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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