Big Ripple Transaction Alert: 100M XRP Moved, 19.7M Headed to Bitso Exchange
On the previous day, Whale Alert, a prominent cryptocurrency tracking service, highlighted a transaction via Twitter involving the transfer of 100 million XRP, valued at $57.92 million at the time, as recorded by the service. The transaction details, as per data from Bithomp, indicate that the sender’s wallet, rP4…xv3, sent the 100 million XRP to the wallet rhW…2hk, both of which are categorized as unknown by the XRP Ledger explorer.
Massive Whale Transaction
Noteworthy is the recent activity of the sending wallet, which, over the course of the week, has transferred substantial amounts of XRP to various addresses. A significant transaction took place on September 17, when the address sent 50 million XRP to the same recipient address. As of the current moment, the sending wallet holds a balance of 50.181 million XRP. Despite being labelled as unknown by Whale Alert, data suggests an association of the address with Ripple.
Read Also: Solana Unveils Update for Developers: Will This Propel SOL to Reach $300?
This heightened whale activity has sparked concerns among XRP enthusiasts, with speculations arising that the recipient wallet may imminently dispose of the tokens. These concerns are gaining traction as data from Bithomp confirms significant movements by the owner of the recipient wallet. Shortly after receiving the 100 million XRP, the address transferred 19.957 million XRP to another Ripple wallet. Intriguingly, following this receipt, the Ripple wallet subsequently moved the 19.957 million XRP to two different exchanges, initially transferring 19.7 million XRP to the Bitso exchange, and then 257,000 tokens to Bitstamp six minutes later.
Furthermore, several substantial XRP-related whale transactions since the beginning of the month. Notably, on September 5, an unknown whale deposited 95 million XRP into Binance, followed by another whale transferring 105 million XRP to an unlabelled address two days later.
Price Action
Meanwhile, XRP is presently trading at $0.5858, reflecting a 9.09% surge in the weekly charts. The seventh-largest cryptocurrency has also experienced a modest rally of 1.98% in the past 24 hours.
Read Also: Solana Seeker Mobile App Launches With Cutting-Edge AI Capabilities as SOL Token Sees 5% Increase
Follow us on Twitter, Facebook, Telegram, and Google News
Dr. Olajide Samuel juggles the demands of medical studies with a passion for cryptocurrency. A seasoned blogger, Olajide shares his vast global knowledge of the crypto space, offering insights to enthusiasts. Despite his busy schedule, his commitment to crypto remains strong, and he actively seeks ways to contribute to its future.
