XRP Whales Move 650 Million Tokens Worth $250M in 24 Hours

Vinod Dsouza
ripple xrp whale
Source: Pixabay

Whales are moving all in on XRP by purchasing and transferring millions of tokens since January 2023. On Feb. 20th, six different whales transferred nearly 650 million tokens worth a staggering $282 million in a day. While a handful of transfers were initiated to cryptocurrency exchanges, the others were sent to private wallet addresses. Also, XRP is among the most sought-after cryptocurrency on the rich list this year anticipating a ruling in favor of Ripple in the legal battle against the SEC.

Also Read: Cryptocurrency Lender Celsius Didn’t Record ~7000 Transfers Worth Billions

Whales Transfer Millions Worth XRP in 24 Hours

Ripple XRP Whale
Source: Newsbtc.com

Data shows that six different whales have transferred millions worth of XRP tokens in the last 24 hours. Among the six transactions, three whales sent the tokens to Europe’s leading cryptocurrency exchange Bitstamp. The other three whales sent the tokens from a private wallet address to other different and unknown wallet addresses.

Also Read: Bitcoin, Ethereum Reserve Ratio at 104% On OKX Exchange: Report

Below is the overview of the whale activity that occurred on Feb. 20, 2023.

  • 264,500,000 XRP tokens worth $102.0 million were sent from an unknown wallet to an unknown wallet.
  • 244,500,000 XRP worth $94.3 million sent from unknown wallet to unknown wallet.
  • 43,000,000 XRP worth $16.7 million was sent from an unknown wallet to Bitstamp.
  • 35,000,000 XRP worth $13.5 million was sent from an unknown wallet to Bitstamp.
  • 30,000,000 XRP worth $11.6 sent from an unknown wallet to Bitstamp.
  • 28,000,000 XRP worth $10.8 million was sent from Bitso to an unknown wallet.

Overall, the whales transferred worth $248.9 in 24 hours while its price was hovering around the $0.39 mark. The reason for initiating the transfers remains to be unknown. It is not known if the whales who transferred the tokens to Bitstamp have dumped them and jumped ship.

Also Read: “Clash” Between Cryptocurrency and Institutions: IMF Director

At press time, XRP was trading at $0.39 and is down 0.2% in the 24-hour day trade. It is also down 88.42% from its all-time high of $3.40, which it reached in January 2018.