Huge XRP transfers have been reported in the past 24 hours as the XRP price rebounds.
It has become routine to see large volumes of Ripple (XRP) transferred among whale investors. These funds are usually shuffled between unknown wallets and leading cryptocurrency exchanges like Bitstamp and Bittrex.
Silicon Valley tech company Ripple sometimes gets involved in some of the large XRP movements. According to Whale Alert, a platform that tracks the movement of large amounts of cryptos, Ripple was involved in the latest rounds of XRP transfers.
Whale Alert data reveal that the blockchain company transferred 50 million units of XRP to an unknown wallet. The fund was worth around $24.39 million at the time of the transaction.
🚨 🚨 50,000,000 #XRP (24,398,253 USD) transferred from Ripple to unknown wallethttps://t.co/UXR45tgTbu
— Whale Alert (@whale_alert) October 13, 2022
While the transferred amount is to an unknown wallet, it is worth noting that Ripple’s XRP transfer is mostly linked to the company’s On-Demand Liquidity (ODL) solution.
As reported, financial institutions’ interest in the ODL solution has recently increased, with Ripple sometimes forced to purchase XRP from secondary markets to service these demands.
Other Massive XRP Transfers
Aside from Ripple’s transfer, Whale Alert also observed other large XRP movements by whale investors in the last 24 hours.
A few minutes ago, an anonymous whale deposited 25 million XRP ($12.39 million) on the Bitstamp exchange.
🚨 25,000,000 #XRP (12,395,604 USD) transferred from unknown wallet to #Bitstamphttps://t.co/55ttPdgVth
— Whale Alert (@whale_alert) October 14, 2022
One hundred million XRP ($50.05 million) were transferred from an unknown wallet to another unknown wallet.
🚨 🚨 🚨 🚨 🚨 100,000,000 #XRP (50,053,441 USD) transferred from unknown wallet to unknown wallethttps://t.co/qIMOc9U5cY
— Whale Alert (@whale_alert) October 14, 2022
Whale Alert observed the movement of 110.2 million XRP between two Bitso addresses and two unknown wallets.
🚨 🚨 🚨 65,200,000 #XRP (31,260,398 USD) transferred from #Bitso to unknown wallethttps://t.co/uZcv8p7bcD
— Whale Alert (@whale_alert) October 13, 2022
🚨 🚨 45,000,000 #XRP (21,849,792 USD) transferred from unknown wallet to #Bitsohttps://t.co/8hcOXLKSrA
— Whale Alert (@whale_alert) October 13, 2022
Roughly 20 hours ago, 80 million XRP ($35.67 million) were withdrawn from Crypto.com by an unknown whale.
🚨 🚨 🚨 80,000,000 #XRP (35,670,260 USD) transferred from #CryptoCom to unknown wallethttps://t.co/t9dufp4cT1
— Whale Alert (@whale_alert) October 13, 2022
XRP is currently trading at $0.497, up almost 10% in 24 hours, according to Coinmarketcap data.
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Source: https://thecryptobasic.com/2022/10/14/ripple-moves-50m-xrp-while-anonymous-whales-shuffle-315-million-xrp/?utm_source=rss&utm_medium=rss&utm_campaign=ripple-moves-50m-xrp-while-anonymous-whales-shuffle-315-million-xrp