XRP whales continue to transact huge volumes of Ripple’s native token despite the ongoing lawsuit with the U.S. SEC. More than 900 million XRP tokens have been transferred between top exchanges and unknown wallets by whales within the last 48 hours.
Whale Alert, the most advanced blockchain tracker and analytics platform that reports large transactions in the crypto market, revealed a whopping 918,992,713 XRP token transfers initiated by several XRP whale wallets in 10 transactions.
These transactions were initiated by XRP whales via top crypto exchanges like Binance, Bitstamp, FTX, and Bitso.
Related: About 400 Million XRP Moved in the Past 24 Hours: Here’s Where They Are Heading
Transactions By XRP Whales Surge
Among these huge token transfers observed by Whale Alert, the largest transaction was a 295 million XRP token transferred from an unknown wallet to Binance. This transfer was worth approximately $110.6 million when executed.
Whale Alert tweeted, “295,500,011 XRP (110,601,869 USD) transferred from unknown wallet to Binance.”
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 295,500,011 #XRP (110,601,869 USD) transferred from unknown wallet to #Binancehttps://t.co/vg9eyoj2v9
— Whale Alert (@whale_alert) August 17, 2022
The second largest transfer involved Ripple tokens amounting to 286,122,733 XRP and was moved between two unknown wallets.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 286,122,733 #XRP (106,641,346 USD) transferred from unknown wallet to unknown wallethttps://t.co/eKKKcfFld4
— Whale Alert (@whale_alert) August 17, 2022
Similarly, 279,622,820 XRP tokens were moved from an unknown wallet to another unknown wallet using Ripple’s network. This occurred in the last hour while the transaction was valued at 105,723,950 USD.
Another large volume transfer was observed on the Binance digital assets exchange. Here, 44,947,496 XRP tokens valued at $17,366,944 were transferred from Binance to an unknown wallet in a single transaction.
Bitstamp was not left out in the massive movement of Ripple’s digital tokens. Approximately 55.6 million XRP (worth about $21.2 million) were transferred from Bitstamp to an unknown wallet. Another 45 million XRP was sent from an unknown wallet to the exchange. Whale Alert reported another 30 million XRP inflow to Bitstamp on August 17.
🚨 🚨 55,653,202 #XRP (21,201,275 USD) transferred from #Bitstamp to unknown wallethttps://t.co/XwBOAJl1pm
— Whale Alert (@whale_alert) August 18, 2022
Likewise, Bitso exchange recorded XRP whale activity on its platform. First, 30 million XRP tokens flowed into the exchange from an unknown wallet. Earlier today, 50 million XRP, valued at an estimated $19 million was transferred from a certain whale wallet to Bitso.
🚨 50,000,000 #XRP (19,047,669 USD) transferred from unknown wallet to #Bitsohttps://t.co/UKIF5sfS00
— Whale Alert (@whale_alert) August 18, 2022
XRP whales equally employed Sam Bankman-Fried’s FTX exchange to transact over 120 million XRP between yesterday and today. In one transaction, 31,769,271 XRP ($12,192,403) was transferred from the exchange to an unidentified wallet. Also, 95 million XRP tokens were transferred from the exchange to an unknown wallet.
🚨 🚨 🚨 95,000,000 #XRP (35,631,439 USD) transferred from #FTX to unknown wallethttps://t.co/lXJMH6IEdB
— Whale Alert (@whale_alert) August 16, 2022
Read Also: Ex-SEC Attorney Shares Reason Why XRP Should Be Treated Like Bitcoin and Ethereum
Has this Affected XRP’s Price?
Despite these XRP whale actions, the token majorly distributed by Ripple has not been substantially affected in any direction.
Notably, XRP is trading for $0.376 at the time of filing this report. As revealed by Coinmarketcap data, XRP has only appreciated about 1% in price in the last 24 hours.
Meanwhile, Ripple’s native token XRP was relegated to the 7th position in terms of market capitalization by Cardano (ADA) on Saturday. Ripple’s XRP currently stands at around $18.5 billion in terms of market capitalization.
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