XRP Whales Movements in August; Nearly $900M Token in and out of Unknown Wallets

XRP Whales Make Waves: Massive Transfers Spark Speculation

In August, XRP whales moved more than 1.7 billion XRP worth $899 million, with the majority going to the Bitvavo and Bitstamp exchanges. Trading in the token increased 6.89% over the past day as a result of roughly $770 million worth of XRP being bought and sold by traders. The big fluctuations in the digital assets made by influential crypto investors coincided with this increase in trading volume.

In particular, Whale Alert, a well-known whale activity tracker, reported that over 29 million tokens are in motion. A famous exchange received 29,200,000 XRP from an unidentified wallet in the previous 12 hours, according to a report from Whale Alert to the crypto community. According to the update, Bitstamp was the exchange. The market value of the coins that were moved is $15,202,278. 

It’s noteworthy that this movement of 29 million happened just two days after two whales moved a larger sum of the cryptocurrency. For instance, Whale Alert noted that on Sunday, market participants moved 453,518,503 XRP between two exchanges. According to these numbers, crypto whales have already traded XRP valued at more than $255 million this week. investors sent and received 455,168,525 XRP between Bitvavo and Bitstamp over the last week. 

Related Reading: XRP Faces Crucial Juncture with Volatility and Mixed Signals at $0.51

Ripple’s Monthly XRP Unlock Schedule

937,887,028 XRP have been transferred in and out of unidentified wallets to Bitvavo and Bitstamp thus far this month. The market price of these tokens is close to $500 million. It’s also important to note that Whale Alert recorded Ripple’s monthly XRP unlock schedule. 800 million tokens reportedly left Ripple’s wallet in an escrow account on August 1st. Over this month, the whales have transferred a total of 1,737,887,028 XRP tokens worth $899,530,325. Interestingly, despite the XRP regulatory victory, Whale Alert recorded no major XRP movement in July. 

The attention of the crypto community was drawn to the current movement of XRP through exchanges. Many individuals wondered why the token was being transferred to unidentified wallets. Some believe it to be a gloomy indication of the price. A fan claims to have tracked the significant transfers on the Bitvavo market. The poster noted that since 2020, the coins had been transported back and forth between the exchange numerous times.

Significantly, XRP is, after Bitcoin, one of the most popularly traded digital assets on Bitvavo and Bitstamp exchanges. A total of $26,306,675 worth of XRP is traded on both exchanges. It is important to note that this statistic does not include the aforementioned whale transfers; rather, it represents deals made within these exchanges. 

Read Also: XRP Holders Could Earn on XRPL With XLS-30D Changes

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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