XRP Records 452 Transactions Carrying Over $100,000 Each within a Few Hours

Onchain metrics are showing that XRP, the digital token majorly distributed by Ripple, is seeing a spike in whale activity as hundreds of transactions carrying over $100,000 have been moving between wallets and exchanges over the past 24 hours.

As shared by the market intelligence platform Santiment, XRP saw tons of whale transactions during the closing trading hours on Friday.

There were records of 450 transactions carrying XRP worth over $100,000 each. According to Santiment, the 13th of May was the last time this record was equaled, indicating that a high optimism is currently building around Ripple and its digital token XRP.

Santiment tweeted, “XRP is seeing notable whale activity, as well as high optimism, in Friday’s closing trading hours. We’ve picked up a spike of $100k+ XRP transactions that hasn’t been equaled since May 13th. Additionally, sentiment is at its highest since April.”

Over the past couple of days, hundreds of millions of XRP have been moving around top exchanges and unknown wallets.

About four days ago, Whale Alert, the tracker of large crypto transactions from and to exchanges, reported the movement of over 900 million XRP in 10 separate transactions.

TimesTabloid reported similar movements of XRP on August 16th. Whale Alert shared that it took XRP whales 24 hours to move nearly 400 million XRP tokens. The whale tracker stated that the large transfers were carried out between several top exchanges and unknown wallets.

Positives News for Ripple and XRP

Aside from whales’ interest in XRP and the high optimism around the digital token, there has been a lot of positive news for Ripple, the US-based cross-border payment firm behind the digital token XRP.

On Friday, the firm announced its partnership with Brazil-based Travelex Bank to use RippleNet’s On-Demand Liquidity (ODL) in international settlements for its Mexican and Brazilian customers. This new development is seen as means to spread the news about XRP and its use cases.

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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.