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Hundreds of Millions of XRP Moved by Anon Giants: Details

Thu, 12/29/2022 - 10:38
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Yuri Molchan
Astounding amount of XRP tokens shoveled in single transaction
Hundreds of Millions of XRP Moved by Anon Giants: Details
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As reported by Whale Alert crypto tracker, which shares data on large cryptocurrency transactions, around 17 hours ago, an amount close to half a billion XRP was moved between anonymous wallets.

A much smaller XRP transfer was also spotted recently.

Whales move 450 million XRP

The aforementioned crypto tracing platform detected two lumps of XRP moved in the past 24 hours. One contained 40,000,000 XRP tokens worth $14,268,424. The second shifted 410,000,000 XRP, equated to $146,559,177.

Whale Alert tagged the wallet that sent 410 million Ripple-affiliated tokens anonymously, just as the receiver was anonymous. However, XRP explorer Bithomp shared that the transaction was made from a wallet linked to the EU-based Bitstamp exchange to an address that belongs to crypto trading platform Uphold based in New York.

The second transfer, shifting 40,000,000 XRP, also originated from a Bitstamp wallet, taking the funds to U.S.-based Bittrex crypto trading venue.

Related
Self-Proclaimed Satoshi Calls XRP β€œThe Most Useless Pump-and-Dump Scheme”

Is XRP correction signal playing out?

As U.Today reported earlier this week, analyst Ali Martinez shared that he had spotted a sell signal for XRP on a four-hour chart. In the meantime, he also noted, a bearish divergence was forming on the chart against RSI. To sum it up, the analyst was expecting a correction by one or several red candlesticks for XRP.

At that time, the token was exchanging hands at the $0.36772 level. By now, the price has diminished and hit $0.3463, dropping over 3% in the past 24 hours, according to CoinMarketCap's data.

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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 yuri.molchan@u.today.