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Nearly 500 Million XRP Moved between Exchanges and Wallets in 24 Hours. Here’s the Destination

Interest in the Ripple-backed digital token, XRP, remains on the high side as whales continue to shift massive volumes of the digital token on a daily basis.

Shortly after Ripple, the US-based cross-border payment firm received 800 million XRP in its wallet and locked 700 million at escrow, data showed that nearly 500 million XRP have been shifted among top exchanges and unknown wallets within 24 hours. 

Details of the Latest XRP Large Transfers

According to data collected by Timestabloid from the Whale Alert, the leading crypto tracking platform, about 493,042,004 XRP have been cumulatively moved in the last 24 hours between several unknown whale wallets and top cryptocurrency exchanges including Binance, Bitstamp, Bitso, and Sam Bankman-Fried’s FTX.

Out of these 493 million XRP token movements, 136,270,829 XRP were processed by Binance, the leading blockchain ecosystem and largest digital assets exchange by trading volume.

To note, 67,509,674 units of the XRP tokens were transferred from unknown whale accounts on FTX to Binance while 68,761,155 XRP were sent by users on Binance to separate wallets. 

Read Also: Coinbase Requests to File Amicus Brief in Support of Ripple and XRP Against the SEC

The Bitstamp crypto exchange was also involved in this round of hefty XRP transfers where it processed a total of 73,371,175 XRP in three separate transactions. In part of the transactions where XRP flowed into the Ripple ODL-partner exchange, 25 million XRP were sent to Bitstamp in two transfers from unknown wallets. 

Subsequently, Whale Alert reported that 23,371,175 XRP worth approximately $10.6 million at the time of execution were moved from Bitstamp to a certain whale wallet. 

The advanced tracking platform which reports large crypto movements in the industry also revealed that a whopping 60 million XRP flowed into Bitso exchange from a whale wallet while 83.4 million XRP worth about $37.8 million at the time of transfer, were sent out of Bitso. 

In another transaction, Whale Alert reported a wallet-to-wallet transfer where 140,000,000 XRP tokens were shifted. 


Read Also: Top Analyst Stresses How XRP Could Thrive On Bitcoin (BTC) Stability

While XRP whales continue to move massive amounts of the XRP Ledger native token, top crypto analysts and XRP proponents believe that a bullish season is in sight for the digital token. Notably, the XRP token is currently the 6th largest crypto with a market cap of $22.89 billion and is trading for $0.457 at the time of writing.

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Ndianabasi Tom
Ndianabasi Tom
Ndianabasi Tom joined the crypto and blockchain industry in late 2018. He is an all-rounded crypto journalist and content writer. At TimesTabloid, he covers the industry's latest news, developments, and other educational content. He is a graduate of Petroleum Engineering.

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