A deep-pocketed crypto investor is abruptly moving a massive trove of XRP worth nearly $150 million over the past weekend.
On Saturday, an unknown wallet sent 313,218,270 XRP worth more than $148 million to another unknown wallet, according to the blockchain-tracking platform Whale Alert.
Blockchain explorer Bithomp reports that the XRP Ledger (XRPL) fee for the transaction was only 20 XRP, worth about $9.
The sending wallet was activated on October 6th and acquired nearly 300 million XRP in a single transaction that day, according to Bithomp. The wallet now holds zero XRP.
Meanwhile, the receiving wallet was activated on the day of the transaction.
Other recent large XRP transactions include an unknown wallet sending the crypto exchange Bitstamp 30,000,000 XRP worth more than $14.25 million on Friday.
On the same day, Bitstamp sent 40,614,704 XRP worth more than $19.29 million to a wallet of unknown origin.
XRP is trading at $0.459 at time of writing. The sixth-ranked crypto asset by market cap is up 1.39% in the past 24 hours.
Just last week, a Ripple quarterly report revealed the San Francisco payments company for the first time now owns less than 50% of XRP’s total outstanding token supply.
Ripple has faced criticism for owning a large amount of XRP, with some critics arguing it gives the group too much control over the XRP Ledger, a decentralized public blockchain.
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Source: https://dailyhodl.com/2022/11/01/xrp-whale-suddenly-moves-massive-148102802-trove-of-crypto/