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Hundreds of Millions of XRP on Move, 262 Million in Single Lump: Possible Reason

Thu, 01/12/2023 - 15:59
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Yuri Molchan
Whales continue to shovel astounding sums in crypto and XRP in particular, while its price goes up
Hundreds of Millions of XRP on Move, 262 Million in Single Lump: Possible Reason
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Whale Alert crypto tracking service has spread the word that less than four hours ago, an "unknown" wallet transferred a massive amount of XRP worth nearly $100 million.

Around 16 hours ago, $42.5 million worth of this Ripple-affiliated token was wired. In all, that makes up nearly 400 million XRP.

Meanwhile, XRP's price, though it has not shown any rise in the past 24 hours, has jumped by around 8% over the past seven days, according to CoinMarketCap.

370 million XRP shoveled as whales remain interested in XRP

A heavy chunk of 262,394,861 XRP was transferred between two anonymous addresses, data from XRP explorer Bithomp confirms. As for the earlier transactions mentioned by Whale Alert, those were transfers of whales between such wallets linked to major crypto exchanges, such as Bitso, Bittrex and Bitstamp.

An internal transfer of 41,000,000 XRP was also conducted by Bitso — the largest crypto exchange in the Latin America region and a major ODL partner of Ripple Labs giant.

Now that 2023 has arrived, many people, including Ripple chief executive Garlinghouse, expect the long-lasting Ripple-SEC case to be resolved this year. The interest of whales and smaller holders in sixth largest coin XRP seems to be reviving.

Dogecoin (DOGE) Creator Sells Bunch of Ethereum (ETH) at $1,190, Here's Reason

An example is the recent listing of a new XRP pair by Bitrue exchange. XRP is changing hands at $0.3675 as of this writing.

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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. ‘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