Advertisement
AD

Main navigation

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

Advertisement
Thu, 12/01/2023 - 15:59
Hundreds of Millions of XRP on Move, 262 Million in Single Lump: Possible Reason
Cover image via stock.adobe.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

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.

Advertisement

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.

Advertisement

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.

Related

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.

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD