By Solomon Odunayo
It’s expected for transactions to increase as the price of any crypto asset trends upward. This can be related to the number of crypto whales that have been moving their XRP troves since the digital asset started its shocking rally.
In a series of reports via Whale Alert’s official Twitter Handle, XRP whales moved a total sum of 544 million XRP worth $352.8 million from one wallet to another within the last 24 hours.
Read Also: Ripple Executive: About 350 Financial Institutions Now Leverage Ripple’s Payment Technology
The XRP Transactions and Their Destinations
According to Whale Alert, an unknown wallet sent 100 million XRP worth $65 million to a separate unknown wallet. About a minute later, the same wallet also transferred the same amount of XRP to the same receiving wallet in an identical transaction.
The Ripple Genesis Wallet also involved in the huge movement of XRP. 116.5 million XRP worth $75.7 million was sent from the wallet to an unknown wallet.
Moreover, the leading cryptocurrency exchange, Binance, received a total of 34 million XRP worth $22 million from an unknown wallet in two separate transactions.
Aside from the aforementioned transactions, whales also moved 194.2 million XRP worth $124.7 million in the last 24 hours. Four of the transfers involved cryptocurrency exchanges, including Coinbase, Bittrex, and Bybit. The rest involved Ripple and Genesis.
Summary of the transaction origins and destinations are the following:
- 9.5 million XRP worth $6.2 million transferred from a wallet of unknown origin to Coinbase
- 9.6 million XRP worth $6.4 million transferred from a wallet of unknown origin to Coinbase
- 13 million XRP worth $8.3 million transferred from a wallet of unknown origin to Bittrex
- 102.1 million XRP worth 65.9 million transferred from Genesis to a wallet of unknown origin
- 10 million XRP worth $6.4 million transferred from Ripple to a wallet of unknown origin
- 50 million XRP worth $31.5 million transferred from an unknown origin to Bybit
Read Also: Crypto Whales Moved $319 Million in BTC, ETH, and XRP As Market Recovers
Ripple Unlocked Monthly 1 Billion XRP in Escrow
In another development, Ripple, the cross-border payment behemoth, unlocked the monthly 1 billion XRP on 1st December 2020.
According to Whale Alert, Ripple moved the first 500 million XRP from escrow to one of its wallets. Moments later, another 500 million XRP was transferred from escrow to a separate wallet belonging to Ripple.
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