Wednesday, June 19, 2024
HomeCryptocurrencyWhales Moved 135.8 Million XRP Following a Flash of Recovery. Here’s the...

Whales Moved 135.8 Million XRP Following a Flash of Recovery. Here’s the Destination

Three crypto whales moved large amounts of XRP as the embattled crypto asset experienced one of its most bullish trends so far this year.

Whale Alert, the tracker of large transactions of cryptocurrencies from one wallet to another, initially spotted the transfers of the crypto bag holders amounting to over $61 million worth of XRP.

Read Also: Ripple President Hopeful of a Win in XRP Lawsuit, Predicts When Decision Will Be Pronounced

One of the whopping transfers in the past day involves a large whale moving 50 million XRP worth about $22.8 million from the Mexico-based crypto exchange Bitso to an unknown wallet.

A second whale shifted a total of 55 million XRP worth $24.64 million from an unknown wallet to two different crypto exchanges, where they could potentially be sold on the open market. The whale in question first relocated 23 million XRP worth $10.36 million from an unknown wallet to Bitso. In a second transaction, the same whale transferred 32 million XRP worth $14.28 million to Bitstamp.

A third whale moved 30 million XRP worth $13.56 million from crypto exchange Upbit to a wallet of unknown origin.

XRP explorer Bithomp shows that it costs virtually nothing to transfer tens of millions of dollars worth of the top crypto asset.

Read Also: Over 50 Whales that Joined XRP Network over the Past Month Have Accrued 420 Million XRP

<

The whale transfers come after XRP printed a huge rally last week. The digital token surged from last week’s low of $0.37 to a high of $0.49, marking an increase of more than 32% in just seven days.

At the time of filing this report, XRP is trading at $0.4857, with a relatively 4% price upsurge in the last 24 hours, according to CoinMarketCap.


Follow us on Twitter, Facebook, Telegram, and Google News

Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.
RELATED ARTICLES

Latest News & Articles