Over 500 Million XRP Shifted Within 48 Hours Amid Market Downturn

Regardless of the recent price decline in the cryptocurrency market, XRP whales are still moving huge amounts of the Ripple native token. In the last 48 hours, data shows that more than 500 million XRP have been shuffled between unknown wallets and several top crypto exchanges.

According to Whale Alert, the most advanced blockchain tracker and analytics platform that reports large and exquisite transactions made in the crypto market, approximately 513,900,000 XRP tokens have been transferred by XRP whales within two days alone.  

These large transfers were executed using several top crypto exchanges like FTX, Bitso, Bitstamp, and mysterious whale wallets. On August 23, XRP whales moved an estimated 117 million XRP tokens, as revealed by Whale Alert. 

Out of these 500+ million XRP tokens transferred within 48 hours, Bitstamp processed the highest volume (175 million XRP), followed by Bitso exchange which processed about 153.9 XRP token transfers. 

On the other hand, FTX processed a total of 125 million XRP tokens, which was the highest volume in a single transaction. Meanwhile, these 513.9 million XRP tokens were moved in just 9 transactions.

Related: About 400 Million XRP Moved in the Past 24 Hours: Here’s Where They Are Heading

XRP Movements in the Last 48 Hours

Among these large XRP transactions observed by Whale Alert, the largest transaction was the 125 million XRP tokens transferred from the FTX exchange to a mysterious wallet. This transfer was worth approximately $42.84 million when it was reported. 

The second largest token movement in the last 48 hours by XRP whales was observed when 63,900,000 XRP worth about $22.31 million was transferred from Bitso to an unknown wallet. Similarly, 60 million XRP was sent to Bitso from another unknown wallet. Additionally, 30 million XRP ($10.18 million) was transferred from an unknown wallet to the exchange.

Read More: XRP and Cardano (ADA) Finished Strong Last Week In Terms of Inflows –CoinShares Reports

“60,000,000 XRP (20,761,627 USD) transferred from Ripple to unknown wallet,” Whale Alert also reported. Meanwhile, XRP whales equally employed Bitstamp to carry out their token movements. On August 23, 55 million Ripple native tokens (worth about $19.13 million) were transferred to Bitstamp from a whale wallet.

Also, 43,013,078 XRP tokens were later transferred from Bitstamp to an unknown wallet on the same day. Another 40 million XRP was sent from an unknown wallet to the exchange. Again, Whale Alert reported 37,836,767 XRP ($12.86 million) transferred from Bitstamp to a certain mysterious wallet.

However, Ripple‘s digital token XRP has been heading downwards in the past 7 days, recording a price decline of over 7.5%. At the time of writing, XRP is trading for $0.3432, as shown by Coinmarketcap data.

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