Main navigation

Almost Billion XRP Withdrawn from Crypto Exchange in Past Two Days, Price Drops 2.34%

Mon, 08/28/2023 - 09:47
article image
Yuri Molchan
Two massive chunks of XRP transferred from major European crypto exchange over weekend
Almost Billion XRP Withdrawn from Crypto Exchange in Past Two Days, Price Drops 2.34%
Cover image via
Read U.TODAY on
Google News

While XRP is trading at a discount, two unknown whales have withdrawn more than 850 million XRP in merely two transfers from EU-based crypto exchange Bitvavo, per recent tweets published by Whale Alert.

The first XRP chunk was moved on Friday, the second one earlier today. Besides, someone is selling nearly 30 million XRP on another major exchange based in the EU.

In the meantime, XRP continues to trade sideways; however, over the past 24 hours, the price slumped a little, losing approximately 2.34% of its value.

850 million XRP on the move, here's what's driven it

Crypto tracking bot Whale Alert has spread the word that over the past 24 hours, it has spotted two massive XRP transfers, which carried tens and hundreds of millions of XRP tokens.

The bigger one transferred a total of 425,118,503 XRP, moving this tremendous lump of crypto from the Bitvavo exchange to an unknown wallet.

This is the equivalent of $224,906,760 USD. A similar amount of XRP β€” 425,868,525 coins β€” was transferred from Bitvavo on Friday, Aug. 25, making it almost a whopping billion XRP (more than 950 million tokens) that was withdrawn to anonymous digital wallets from that crypto exchange.

However, according to data shared by XRP-focused platform Bithomp, both these staggering XRP lumps were moved to addresses associated with the Bitvavo exchange, making these transfers nothing but Bitvavo redistributing its XRP bags among internal wallets.

Ripple CTO Intrigues XRP Army With Mind-Twisting Tweet

Close to 30 million moved to be sold

The aforementioned crypto tracker also detected a hefty amount of XRP deposited to a crypto exchange with an intention that seems to be a future sale β€” a total of 28,400,000 XRP was moved to major exchange Bitstamp. This amount of Ripple-affiliated crypto is worth $14,921,752.

Thus, 879.3 million XRP coins have been on the move overall over the past weekend.

article image
About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. β€˜Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at