As a seasoned analyst with a decade of experience in the cryptocurrency market, I find these massive XRP transfers intriguing. The sheer volume of 200 million XRP moving around is a clear indication of significant market activity.
The blockchain detective Whale Alert has spotted two significant transactions involving nearly 200 million units of XRP. Approximately half of this amount was moved to the leading global cryptocurrency exchange, Binance.
In the last 24 hours, a massive amount of 358 million XRP, associated with Ripple, has been transferred through various transactions that were observed beforehand.
200 million XRP change hands, half goes to Binance
The cryptocurrency tracker spotted two heavy-weighed transactions, which contained 95,000,000 XRP and 102,881,561 XRP. The former is the equivalent of $49,681,608, the latter was worth slightly more at the time of the transfer — $54,034,011.
95 million units of Ripple (XRP) were moved to Binance by an unidentified large investor, possibly looking to cash out during Friday’s 5.6% market downturn. Following a dip to $0.51440, XRP experienced a modest recovery, causing its price to rise to $0.52815 – a 2.43% increase.
Approximately 102.8 million units of XRP were transferred between two unidentified blockchain wallets, indicating heightened whale involvement in the market.
Whales and Ripple shovel 187 million XRP
Previous XRP transactions spotted by Whale Alert on Friday suggest that larger investors, or ‘whales’, have been more engaged this week compared to earlier periods.
In the list of transactions, there was one notable one: a transfer of 100 million XRP from the San Francisco-based cryptocurrency giant Ripple. This particular transfer, however, was not made to a publicly identified wallet; instead, it appears to have been an internal transaction conducted by the company itself, according to details disclosed by Bithomp.
31,126,439 units of Ripple were additionally taken out from the Orbit exchange, while a large investor (possibly) transferred 29,100,000 XRP to the Mexican cryptocurrency trading site, Bitso.
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2024-09-07 13:32