Ripple Moves 100M XRP, While Whales Transfer 187M

Whales’ XRP movements are on the increase.

According to the cryptocurrency tracking platform Whale Alert, a hefty amount of XRP tokens were moved in a few hours. The transactions were conducted mostly by unknown whales. It is interesting to note that Ripple was also involved in the latest round of large XRP transfers. 

Data provided by Whale Alert shows that the blockchain company transferred a whopping 100 million XRP tokens to an unknown wallet. At the time, the transaction was worth $49.16 million. 

🚨 🚨 🚨 🚨 100,000,000 #XRP (49,160,827 USD) transferred from Ripple to unknown wallethttps://t.co/49aj3UaIic

— Whale Alert (@whale_alert) November 4, 2022

Rationale Behind the Transaction

The recipient’s identity was unknown in the hours leading up to press time. However, the transfer is expected to be related to the blockchain company’s On-Demand Liquidity (ODL) solution. There is a possibility that Ripple made the transfer to a client of its ODL solution. It is worth mentioning that Ripple’s ODL uses XRP as a bridge currency for cross-border settlements. 

Other Huge XRP Transfers

Aside from the 100 million XRP moved by Ripple, other whales were reported to have transferred an immense amount of 187,784,164 XRP in the last three hours.

An anonymous whale transferred 20 million XRP worth $9.96 million to an address on the Philippines-based cryptocurrency exchange, Coins.ph.

20,000,000 #XRP (9,964,437 USD) transferred from unknown wallet to #CoinsPhhttps://t.co/HxofhWY2hx

— Whale Alert (@whale_alert) November 4, 2022

A few minutes later, 27,791,564 (27.79 million) XRP, valued around $13.87 million, were withdrawn from Bitstamp to an unnamed cryptocurrency wallet.

🚨 27,791,564 #XRP (13,870,130 USD) transferred from #Bitstamp to unknown wallethttps://t.co/FgK9mWQm0j

— Whale Alert (@whale_alert) November 4, 2022

Whale Alert also tracked the movement of 30 million XRP ($15.05 million) to an address on the Bitstamp cryptocurrency exchange.

🚨 30,000,000 #XRP (15,054,264 USD) transferred from unknown wallet to #Bitstamphttps://t.co/3PBECQMDbA

— Whale Alert (@whale_alert) November 4, 2022

44,992,600 (44.9 million) XRP were withdrawn from Bitstamp by an anonymous whale. The fund was worth $22.52 million at the time of the transaction.

🚨 🚨 44,992,600 #XRP (22,529,017 USD) transferred from #Bitstamp to unknown wallethttps://t.co/2SZbEaVqhS

— Whale Alert (@whale_alert) November 4, 2022

Furthermore, 30 million XRP were deposited to a Bitstamp address by an unknown whale, while another Ripple whale withdrew 35 million XRP tokens.

🚨 30,000,000 #XRP (15,021,815 USD) transferred from unknown wallet to #Bitstamphttps://t.co/87zLa5PaXR

— Whale Alert (@whale_alert) November 4, 2022

In the last 24 hours, 287,784,164 (287.78 million) XRP were moved in seven different transactions. The funds were valued at $92.93 million at the current exchange rate.

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