Whale Alert crypto tracking platform has spotted a staggering amount of Ripple-affiliated XRP tokens getting moved from a popular Netherlands-based crypto exchange to an unknown wallet.
This is the biggest XRP chunk moved within the last few weeks spotted by Whale Alert, except one billion XRP released by Ripple on Aug. 1 on schedule.
A total of 425,868,525 XRP were moved in this single massive transfer worth $220,143,198. A whale, apparently, has decided to buy XRP on the dip, withdrawing nearly half a billion of these tokens from Bitvavo and sending them to his cold wallet for long-term storage.
Last week, an unregistered wallet owner also withdrew 4.6 trillion Shiba Inu from this crypto exchange, moving the meme coins to a self-custody wallet.
In the meantime, the price of XRP has been making attempts to recover after its 15% fall on Aug. 17. Since that time, it first saw a 12.15% rise followed by a decline of 4.75%. XRP seems to be trying to overcome the resistance level of $0.053516, but to no avail so far. At press time, XRP is changing hands at $0.52144.
Earlier this week, U.Today reported that an anonymous wallet owner transferred 29,300,000 XRP to the Bitstamp exchange to sell it.