Main navigation

XRP Whales Move 60 Million Coins Between Wallets: Whale Alert

Advertisement
Tue, 8/03/2022 - 12:55
XRP Whales Move 60 Million Coins Between Wallets: Whale Alert
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

Following the recovery on the cryptocurrency market, XRP whales are moving large quantities of the cryptocurrency between private wallets, as Whale Alert tracking bot reports. The reason behind those transactions remains undisclosed.

According to the transaction page, a wallet ending in DG9Ad sent $55 million worth of XRP to a wallet ending in BZcEXg at 6:27 a.m. UTC. But while the initial notification states that the transaction was made from an unknown wallet, the hash data suggests that the sender wallet is tied to Bithumb cryptocurrency exchange.

The recipient wallet currently holds 60 million XRP coins and recently sent 30 million coins to two other addresses, which could indicate that the whale is either redistributing funds or moving them to another exchange.

Advertisement

The recipient wallet is constantly receiving large transactions from various addresses, suggesting that it is either tied to the exchange or is actually the address of a crypto-related services like OTC trading desk.

XRP market performance

According to TradingView, XRP is moving in a low-volatile rangebound since the middle of February, which shows that the majority of the market is still uncertain about the future movement of the asset.

Related

In the long term, XRP is moving in a sharp downtrend and losing almost 50% of the value. Since the end of January, it has been in the recovery channel, in which it already lost 20% from the local peak.

The cryptocurrency market ‌is also going through a tough time and losing over 60% of its value with a major drop in volume and liquid supply as traders and investors started moving their funds away from centralized and decentralized exchanges.

At press time, XRP is trading at $0.72 and gaining approximately 0.72% in the last 24 hours.

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