Whales Shuffle 645M Tokens as XRP Retests $0.40

The asset is currently looking to regain the losses incurred over the weekend.

XRP whale activity saw an uptick over the weekend, as deep-pocketed addresses shuffled 645 million tokens within three hours. The massive whale transactions occurred when XRP faced fierce resistance as it sought to retest the $0.40 price zone for the first time since Feb. 9.

All 645 million tokens were shuffled in six transactions, as highlighted by Whale Alert. The first whale transaction involved the movement of 264.5 million XRP ($102 million) between two unidentified wallets yesterday at 19:41 (UTC).

? ? ? ? ? ? ? ? ? ? 264,500,000 #XRP (102,098,859 USD) transferred from unknown wallet to unknown wallethttps://t.co/vzFljALdPs

— Whale Alert (@whale_alert) February 19, 2023

Barely two minutes after the transaction, the recipient wallet off-loaded all the assets in two separate transactions. One of the transactions involved the movement of 244.5 million XRP ($94.3 million) to another unidentified wallet.

? ? ? ? ? ? ? ? ? 244,500,000 #XRP (94,379,527 USD) transferred from unknown wallet to unknown wallethttps://t.co/uvY4eiBMFp

— Whale Alert (@whale_alert) February 19, 2023

This unidentified wallet then sent out all 244.5 million XRP tokens in a series of transactions to Bitstamp, Bitso, and Independent Reserve. Whale Alert picked up the three most significant of these transactions. The first noteworthy transfer saw the movement of 43 million XRP ($16.7 million) to a Bitstamp-affiliated address at 21:41 (UTC).

? 43,000,000 #XRP (16,760,533 USD) transferred from unknown wallet to #Bitstamphttps://t.co/LbKIx2MZIp

— Whale Alert (@whale_alert) February 19, 2023

Four minutes later, the unidentified wallet transferred 35 million XRP ($13.5 million) to the same Bitstamp-affiliated address. The third transaction saw the movement of 30 million XRP ($11.6 million) to the Bitstamp address two minutes later. The purpose of these Bitstamp movements remains unknown, but this sort of whale transaction from Bitstamp has been prevalent of late.

Shortly after the Bitstamp transactions, an unknown whale sent 28 million XRP ($10.8 million) to a wallet affiliated with Bitso at 22:00 (UTC).

? 28,000,000 #XRP (10,863,413 USD) transferred from #Bitso to unknown wallethttps://t.co/yAmuvFbz7J

— Whale Alert (@whale_alert) February 19, 2023

These whale movements have recently picked up amid market-wide uncertainty and speculations on the Ripple v SEC case. Last Monday, whales shuffled nearly 600 million XRP as the price declined by 3%.

Conversely, the recent whale transactions occurred when the asset maintained a 5% increase in the past week despite rejection at the $0.40 zone last Thursday. With a 1.04% gain since the start of today, the asset is attempting to print a winning candle following two consecutive losing sessions. XRP is currently changing hands at $0.3905.