As a researcher delving into the realm of cryptocurrencies, I’ve recently observed an intriguing movement in the market: approximately 100 million units of XRP have been traded over the last two days, according to my latest findings, which I’ve chosen to share with my online community.
100 million XRP on the move
As an analyst, I’ve just uncovered some intriguing insights from a chart generated by Santiment, a widely-used on-chain data aggregator. Over the past two days, it appears that significant cryptocurrency whales have embarked on a substantial buying frenzy in the market. These whales, identified as large wallets holding between 1 and 10 million XRP each, have amassed an impressive 100 million XRP.
Currently, the value of these Ripple-linked tokens stands at approximately 327 million and four hundred eighty-four thousand dollars, since each XRP token is being traded for about 3.27 US dollars.
As per the given data, whales offloaded a substantial quantity of XRP totaling more than 100 million dollars during the past two days.
Whales bought over 100 million $XRP in the last 48 hours, as shown by data from @santimentfeed!
— Ali (@ali_charts) January 20, 2025
100 million XRP were acquired when the third-largest cryptocurrency by market capitalization experienced a significant drop, losing over 10% (from around $3.27 to $2.92). Today, XRP has seen a substantial surge of over 14%, jumping from $2.92 to $3.33. Interestingly, the price trend of XRP mirrored that of Bitcoin, the largest cryptocurrency, which reached a new record high of $109,114. However, Bitcoin has since given back some of its gains and is currently trading at $107,468.
40 million XRP deposit strikes Binance
In my analysis, I previously noted that approximately 40 million XRP tokens were moved from an unidentified digital wallet to Binance, the leading global cryptocurrency exchange, as reported by U.Today.
Although the community perceived this deposit as a positive indicator, Bithomp’s XRP-centric data platform uncovered that the transaction originated from a wallet linked to Binance, suggesting it was an internal cryptocurrency transfer within their system.
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2025-01-20 18:34