As a seasoned analyst with extensive experience in the cryptocurrency market, I find these recent XRP transfers and price fluctuations intriguing. Based on the data provided by Whale Alert, we can see that large amounts of XRP were moved between major exchanges, with significant portions being deposited into Bitso and Bitstamp. The origin of these XRP chunks can be traced back to Ripple-linked wallets, indicating support for the Ripple Payments project (formerly known as On-Demand Liquidity or ODL).
Based on information provided by Whale Alert, a cryptocurrency monitoring platform that tracks large transactions within the blockchain community and broadcasts their details on social media, approximately $111.8 million worth of XRP coins were taken out of two prominent exchanges over the past 24 hours.
Among those transfers were millions of XRP, which were sent to Bitso and Bitstamp.
184.2 million XRP getting shoveled
As an analyst, I’ve noticed that Whale Alert has identified eight significant transactions involving XRP transfers. The smallest of these transactions was worth approximately $10,961,925, which equates to 19,000,000 XRP coins. Among the largest transactions, two carried a substantial amount, with one transferring 26,000,000 XRP and the other handling 26,287,782 XRP. The remaining transaction involved between 21 million and 23 million XRP coins.
Approximately 184.2 million XRP were transferred in total, equating to nearly $112 million in fiat currency value.
As a crypto investor, I’ve noticed some significant XRP transfers taking place recently. Specifically, 21 million XRP were deposited into Bitso, the major cryptocurrency exchange in Latin America and a unicorn in the industry. Simultaneously, a larger amount of 22.7 million XRP was transferred to Bitstamp. Based on information provided by Bithomp, these two XRP portions originated from wallets connected to Ripple, as part of their ongoing efforts to back the Ripple Payments project, previously referred to as On-Demand Liquidity (ODL).
As a seasoned observer of the cryptocurrency market, I must admit that I was taken aback when I heard about the recent 150 million XRP transaction reported by Whale Alert. Having closely followed the developments in the Ripple community for years, I couldn’t help but raise an eyebrow at this enormous transfer. The sheer size of the transaction piqued my curiosity and sparked numerous questions about its destination within the XRP community. After all, transfers of such magnitude are not a common occurrence in the world of digital assets. It will be interesting to see where these coins end up and what implications it may have for the XRP ecosystem.
XRP price plummets 10%
Over the past 24 hours, XRP experienced a significant decrease of around 10%, dropping from $0.63459 to $0.57205. There was a brief recovery, causing the coin associated with Ripple to rise slightly. However, its current value now stands at $0.57421.
A significant 16% price drop for XRP occurred not long after it experienced a remarkable weekly growth of around 36%. This surge took place between July 7 and July 13. Based on recent findings from Santiment’s report, large cryptocurrency holders amassed approximately 300 million XRP during this period, contributing to the substantial increase in its price.
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2024-07-18 17:47