In the recent development, seven different transactions were initiated by Whales to move 421.1M XRP tokens valued at $168.4M. The transaction occurred between 3 and 7:45 AM on Saturday (UTC) between an unknown wallet and bitstamp, an ODL’s partner.
The rate at which Ripple’s XRP is breaking ground is huge, as yesterday’s report stated, that as the lawsuit between Ripple and SEC is being waited for to bring to a successful close on the 30th of November, the XRP price is reacting to it positively.
The detail of the transaction are as follow:
- The first transaction occurred at exactly 3:07 (UTC) and moved 29 million XRP ($11.6M) from a multisig Bitstamp address to another Bitstamp address.
- Just some hours later, 162.5 million XRP worth $65.1 million was sent by an unknown wallet to an unknown recipient which later took it to bitstamp and Independent Reserve in 10 minutes, leaving it with a current balance of 100 XRP as of press time.
- Another massive transaction occurred and moved 33.7 XRP ($13.6M) to the multisig Bitstamp wallet on November 26, 7:29 (UTC).
- The fourth transaction, which occurred concurrently with the third movement, involved an inflow into Bitstamp, as an unidentified wallet moved 60M XRP valued at $24.2M to a wallet hosted on the Luxembourg-based exchange on November 26, 7:29 (UTC).
- Minutes after, 60 million XRP worth $24.2M was sent to the Bitstamp wallet from the fourth transaction another Bitstamp wallet at exactly 7:30 (UTC) made the fifth transaction. The reason for this kind of transaction remains enigmatic but on rare occasions.
- A couple of minutes after, another whale transaction saw 30M XRP ($12.1M) transferred from an unidentified wallet to a Bitstamp wallet on November 26, 7:34 (UTC), marking the sixth transaction.
- Finally, the seventh transaction moved a total of 45.9M XRP ($18.6M) in an intra-exchange transfer within Bitstamp on November 26, 7:35 (UTC).
Whales Move XRP Massivel, As Ut Fight For Recovery
It is worth noting that XRP whales appear to be the most active of the bunch, as large transactions such as these are increasingly becoming common on the network regardless of market conditions.
However, the recent transaction occurred at a time when there is a high bearing in the general crypto market and every asset is fighting to recover from the recent incident caused by the FTC collapse.
Notably, XRP has not been left out in this recent campaign, as the asset has gained by 7.53% in the past 7 days despite a 2.28% decline in the last 24 hours. Once it is able to conquer the present $0.40 line, its navigation ahead and beyond will so much possible. The coin currently trades at $0.4068 point.