Friday, December 9

Ripple Whales Move A massive 340.8 Million XRP, Although Its Price Still Experiences Struggle

Per the Whale Alert, the usual XRP movement of the massive amount of XRP occurred again as the Ripple whales moved a massive 340,804,615 XRP valued at around $152.97 million were shuffled by unknown whales over the past 24 hours.

The detail of the transaction was shared by the Whale Alert on its handle, saying how the massive amount of XRP was moved by a Ripple whale to an unknown whale.

Read Also: Dogechain On-chain Stats Tells The Reason For The 300% Spike In Seven Days

Details For The Ripple Whales Massive Transaction

  • Whale Alert noted that Ripple transferred a total of 100 million XRP worth $45,474,634 to an unknown wallet roughly eight hours ago. It is worth noting that the transfer was related to the company’s On-Demand Liquidity service. This solution uses XRP as a bridge currency for cross-border settlements.
  • Following the massive 100 million XRP transfer, an unknown whale deposited 25 million XRP worth $11.4 million to Bitstamp cryptocurrency exchange, one of Ripple’s ODL partners. 
  • Another anonymous whale at Ripple made a transfer of 25 million XRP worth $11.38 million to a Bitstamp address.
  • In the same premise, a massive 60 million XRP worth $27.4 million were moved by an anonymous whale to Bitstamp, an ODL’s partner.
  • Following the above transaction, Bitstamp transfers 56,604,615 XRP coins worth $25.85 million were transferred from the Luxembourg cryptocurrency exchange to an unknown wallet.

Read Also: ETH Biggest Whale Transfers A Whopping 150 Million SHIB To CryptoCom

  • Another ODL partner, Bitso, made a transfer of 49.2 million XRP  worth $22.46 million to an unknown address.
  • Some minutes after the last transaction, there was a movement of 25 million XRP ($11.23 million) moved from an unknown wallet to Bitstamp.

XRP Price Experiences Resistance Despite Whale Massive Movement

The massive movement of XRP is now usual of Ripple whale and most of this transaction is related to the ADL’s partners which include Bitstmp and Bitso.

For instance, recently, a total of 50 million XRP tokens were transferred to an unknown wallet and the overall token was worth around $24.39 million at the time of the transaction.

However, XRP is currently trading at $0.4471, down 1.89% in 24 hours and down 3.24% since yesterday.


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