Following Ripple’s Transfer Whales Moves 160M+ Tokens As Price Falls

Following Ripple’s Transfer Whales Moves 160M+ Tokens As Price Falls

Within a short time, after Ripple sent 50 million XRP, whales moved almost 110 million tokens in less than three hours.

The movement of more than 160 million XRP tokens in less than 24 hours resulted from a series of transactions, showing that XRP whales are still active today. 

Ripple was responsible for the transfer of 50 million tokens. A few hours after Ripple transferred XRP to an unknown wallet, two further whale transactions were completed in under three hours.

Precisely 50 million XRP tokens, worth $19.2 million, were transferred from the official multisig Ripple address to an unidentified wallet yesterday, according to data from Whale Alert.

 According to information from the Bithomp explorer, the transaction occurred on December 7 at 21:21. (UTC).

Even though it was still unknown at the time of publication, Ripple sent millions of XRP in a series of transactions spread out quite a bit to the recipient’s wallet

After another 100M, XRP transfer from Ripple on November 11, the most recent transfer from the company was the first inflow to the account in more than three weeks.

The wallet transfers the XRP to unidentified wallets after each transfer from Ripple.

It has sent 10 million XRP from the 50 million it got to an unidentified wallet with a balance of 45.3 million XRP as of the reporting time.

Other Whale Activity

Within three hours of the significant Ripple movement, another whale movement involving up to 40 million XRP tokens worth $15.3 million took place. 

It has been determined that the transaction from December 8 at 00:08 (UTC) was an internal movement between two wallets on the Latin American exchange Bitso. 

This kind of internal whale movement has recently developed a pattern.

Additionally, less than an hour later, the network saw the movement of 35 million XRP ($13.5 million). 

The 35M XRP tokens were transferred as part of the deal from an unidentified wallet to the Bitstamp exchange in Luxembourg. 

The movement occurred on December 8 at 01:03, according to Bithomp (UTC).

Little is known about the sender’s address at the time of reporting. However, Bithomp data reveals the pattern of outflows to three distinct organizations: Bitso, Independent Reserve, and Bitstamp. 

Typically, millions of XRP are transferred to these wallets in each transaction. As of publication, the wallet has a balance of 150 XRP.

The most recent transactions occurred on December 8 at 1:15 (UTC), six hours ago. This is because an internal Bitso transaction was completed 12 minutes after the previous transaction. 

Between the two Bitso wallets, 35.6 million XRP ($13.9 million) were transferred. The receiver wallet has only ever transacted with Bitso addresses in the past, according to data.

Over 4 Billion XRP Tokens Transferred By a Single Whale

The current moves of the XRP whale are the latest in a lengthy string of movements that have recently gained momentum. 

Yesterday, a single anonymous whale moved almost 4 billion XRP tokens from Bittrex to several unknown wallets, as reported

The significant outflow follows the collapse of FTX, which resulted in the loss of investor funds and put investors’ faith in exchanges to the test.

While most of the larger market has been flat over the previous day, XRP has found some resilience in the last 24 hours, rising by 3%.

 At the time of posting, the asset is trading at $0.3884, down 3.13% over the previous seven days.

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Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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