HomeCrypto NewsMarket336M XRP Moved By Unknown Whales as Price Surge

336M XRP Moved By Unknown Whales as Price Surge

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Cryptocurrency whales moved massive amounts of XRP coins.

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According to Whale Alert, deep-pocketed cryptocurrency investors shuffled astounding amounts of XRP over the past 24 hours. Per Whale Alert data, these high-net-worth crypto investors moved a combined 336.2 million XRP worth $142.38 million in 24 hours.

An Unknown Whale Moves 221.5M XRP

The most significant XRP transaction occurred between two wallets marked as unknown by the aforementioned crypto tracking platform. Around 12 hours ago, an unknown whale transferred a lump sum of 221.5 million XRP worth $89.1 million to another address marked as “unknown” by Whale Alert.

Data revealed by the Bithomp XRP explorer shows that the recipient address also routed the funds to different XRP-related addresses, including Bitso and Bitstamp.

Other Large XRP Transfers

Whale Alert data showed that the recipient address moved 32 million XRP coins worth $12.76M to a Bitstamp address.

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The user also shifted another 34 million XRP coins ($13.61M) to the same address on the Bitstamp exchange. At press time, the recipient address of the initial 221.5M XRP tokens now holds a balance of only 100 XRP ($42), as most of the funds were routed to different unknown wallets.

The whale tracking service also reported another massive XRP transaction that took place on the Latin American-based exchange Bitso. According to Whale Alert, an anonymous Bitso user transferred 48.7 million XRP worth $19.5 million to another Bitso user.

XRP Surges 5% Amid Growing Whale Interest

Interestingly, the transaction comes following a surge in XRP price. At press time, XRP is changing hands at $0.4268, up 5% in the past 24 hours. The cryptocurrency is aiming to reclaim the pre-FTX price territory at $0.45.

Meanwhile, cryptocurrency whales have recently shown significant interest in XRP. As reported by TheCryptoBasic, these deep-pocketed investors shuffled 335M XRP last week. It bears mentioning that the Silicon Valley tech company Ripple is sometimes involved in these large XRP movements. Last week, Ripple transferred 100 million XRP to an unknown whale.

Whales’ growing interest in XRP comes as Ripple CEO Brad Garlinghouse said he is confident of a positive ruling in the SEC lawsuit.

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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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