Whales Move $126M Worth of XRP: Here Is the Transfer Breakdown

Vinod Dsouza
ripple xrp whale
Source: Pixabay

XRP touched a high of $0.41 on Sunday before briefly retracing in price on Monday. The cryptocurrency is looking to break through from its current levels and catapult to $0.45 in the next leg. The markets are in favor of a rally and XRP seems to be consolidating in price before getting a push in the indices. Whale activity into XRP has seen a rise this year as the rich list is purchasing and transferring millions of tokens.

During the weekend, whales moved 319,500,000 XRP tokens worth a staggering $126 million. The tokens were moved from both cryptocurrency exchanges and decentralized wallet addresses.

Also Read: Dogecoin: 523 Whales Invest More Than $100,000 Into DOGE

Did Whales Dump Millions Worth of XRP Tokens?

Source: Siam Blockchain

According to data from WhaleAlert, the whales have transferred the tokens to unknown private wallet addresses and Bitstamp. Below is the breakdown of the transfers worth millions.

A whale moved 205,500,000 XRP worth $81.7 million from an unknown wallet address to another unknown wallet address. The transfer was initiated in a single transaction on Sunday.

The second whale transferred 40,000,000 XRP worth $15.9 million from the cryptocurrency exchange Bitson to a private wallet address.

The third whale moved 41,000,000 XRP worth $16.2 million and transferred from an unknown private wallet address to the Bitstamp cryptocurrency exchange.

Finally, the fourth whale transferred 32,043,479 XRP worth $13.0 million from Binance exchange to an unknown wallet.

In total, the whales moved 319 million XRP worth $126 million during the first week of February 2023.

Whale purchases also experienced a sharp spike in The Sandbox (SAND) during the weekend. The whale entry into SAND comes at a time when gaming-related cryptocurrencies doubled and tripled in price this year. Gaming-related tokens are the highest earners of 2023 giving phenomenal profits to investors in just 35 days. You can read more details about it here.

Also Read: Google Acquires $300 Million Stake in AI Start-Up Anthropic

At press time, XRP was trading at $0.40 and is down 1.9% in the 24-hour day trade. It is also down 87% from its all-time high of $3.40, which it reached in January 2018.