According to Whale Alert, there has been a massive movement of XRP in the last 24 hours, involving both the community whales and the crypto solutions company, Ripple.
Data on the blockchain tracking platform showed that a whopping 479 million XRP were shuffled within 2 hours only. And these transactions happened as the native token of the XRP Ledger showed signs of recovery as it reclaimed the $0.35 price mark.
Per an update, Ripple did set the ball rolling in this latest voluminous XRP token movement. Whale Alert spotted a wallet belonging to the cross-border payments firm as it moved 100,000,000 XRP, valued at $34,004,188 at the time of execution to an unknown wallet.
In close succession, 214,000,000 XRP tokens worth $73,525,151 were also transferred from a certain unknown wallet to another unidentified wallet. As shown on Bithomp XRP explorer, the receiving wallet immediately shifted the 214 million XRP to several other wallets in smaller quantities.
About an hour later, millions of the 6th-largest crypto asset were sent into the Bitstamp exchange in 3 transactions. First, 36,000,000 XRP worth $12,310,757 at transaction time were transferred from an unknown wallet to the exchange.
Likewise, 30 million XRP valued at about $10.3 million and 40 million XRP worth $13.7 were transferred from two separate unknown wallets to Bitstamp. Lastly in the series of the latest XRP large movements, 59,400,000 XRP were transferred from Bitso to an unknown wallet. At the time of execution, the transaction was valued at $20,456,131.
Last week, Santiment showed that the accumulation of the Ripple-linked crypto asset by wallets holding between 100,000 and 10 million XRP has been on a steady rise since July 2022. The bullish sentiment around XRP of late is attributed to the positive developments around the Ripple-SEC case, although it remains uncertain how the lawsuit will be concluded.
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