XRP Whales Have Made Multiple Large Exchange Inflows Today
According to data from the cryptocurrency transaction tracker service , the XRP network has handled a few large transactions during the last 24 hours.In total, there have been four such transfers, each worth at least $10.9 million. Given the huge scale of these moves, it’s likely that whale entities were responsible for them.
Looks like this massive move only took a negligible fee of 0.000015 XRP to be possible | Source:
As is visible above, this transaction involved a movement of 24.6 million XRP (worth over $15 million at the time the transfer went through) between an unknown wallet and an address attached to the cryptocurrency exchange Bitstamp.
Unknown wallets are addresses unaffiliated with any known central entity, so the sender address here was likely the whale’s personal wallet. One of the main reasons why an investor would transfer coins from their self-custodial wallets to an exchange is for selling purposes, so it’s possible that this humongous holder has made this move to part with the stack.The second exchange inflow from the past day | Source:While the receiver in the case of this transaction worth 18 million XRP ($10.9 million) is also an exchange, the platform is Bitso this time, and not Bitstamp as was the case with the other transfer. The third and final exchange inflow seems to have involved both a different sender and receiver, suggesting that a different whale entirely was responsible for this 20 million tokens ($12.1 million) transfer.
The latest of the XRP whale transactions | Source:As mentioned earlier, it’s hard to say for sure anything about the intent behind these moves, but given that they are exchange inflows, they can potentially end up proving to be bearish for the cryptocurrency.
The fourth and the oldest large transaction that has occurred inside this window was actually the largest one and it would appear that Ripple, the company behind the cryptocurrency, was the sender involved.
Ripple seems to have made a large outflow | Source:As is apparent above, the firm has shifted 120 million XRP ($73.8 million) to an unknown wallet. There can be many reasons why the company would have made such a transaction, ranging from a simple change of wallets to a selling move.
Token Price
XRP has mostly been moving sideways recently as it currently trades around the $0.61886 level.The coin appears to have gone stale during the past few weeks | Source: