Whale Alert, a cryptocurrency monitoring service, has identified a large transaction moving XRP coins to the prominent digital currency exchange, Bitstamp.
Many people in the Ripple community reacted to this transfer with various opinions, expressing their views under the related tweet.
Millions of XRP on move, sender unveiled
Around 15 hours ago, an unidentified source from the mentioned data pool reportedly transferred 28,940,000 XRP tokens related to Ripple to Bitstamp, a prominent cryptocurrency exchange platform. This transfer is equivalent to approximately $14,229,498 in value.
A passionate group of XRP supporters initiated a fiery debate regarding the identity of the seller behind a significant XRP transaction. One social media user on X/Twitter proposed that the mysterious sender could be Ripple Labs themselves, transferring a large quantity of XRP – estimated in millions – to one of their payment platforms, previously known as On-Demand Liquidity (ODL), which is now called Bitstamp.
According to Bithomp’s data, which can be found on their website, this assumption is validated through the information they have posted about the transaction in question.
258 million XRP moved to and from Binance
Around the same time, roughly 21 hours ago, the cryptocurrency monitor reported four significant XRP transactions, one of which was exceptionally large. The vast amounts of XRP, totaling in the hundreds of millions, moved between unidentified wallets and Binance.
Three transactions, valued at around $16,280,840 each and containing approximately 33,333,329 XRP units, were transferred to the mentioned crypto exchange. Following this, the XRP was moved to popular Korean exchanges Bithumb and Upbit from an unidentified wallet. No information about the sender’s identity was disclosed.
At the same time, an enormous sum of 158,473,000 XRP, equivalent to around $77,333,753, was transferred from Binance to a wallet on the blockchain with an unknown identity.
This past week, Whale Alert detected a transfer of over 390 million XRP that outsized the one we previously saw. On April 15, this amount was sent to the major South Korean exchange, Bithumb.
Over the past few days, starting from Saturday, XRP has made several efforts to bounce back from its significant 29% drop that occurred on Friday. Despite these attempts, XRP has only managed to gain back 14.85% of its value since then. However, currently, the seventh largest cryptocurrency by market capitalization, XRP, is showing little movement on price charts and appears to be stuck in a holding pattern.
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2024-04-17 16:04