Whale Alert continues to keep tabs on these large XRP movements.
Less than 48 hours after Whale Alert reported the movement of over 410 million XRP coins, the whale tracking service has observed yet another transfer of 375,021,363 (375.02 million) Ripple coins. The funds mostly flowed among Ripple, popular cryptocurrency exchanges, and anonymous wallets.
According to Whale Alert, the first transaction occurred on August 9, 2022, at 16:16 UTC. Per blockchain data, a total of 75 million XRP, worth $27.68 million, were sent from leading cryptocurrency exchange FTX to an unknown address.
? ? 75,000,000 #XRP (27,678,232 USD) transferred from #FTX to unknown wallethttps://t.co/MdlJkS1Z8M
— Whale Alert (@whale_alert) August 9, 2022
Ripple’s Involvement in Large XRP Transfer
A few hours later, Whale Alert tracked another 75 million XRP, valued at around $27.85 million, sent from Ripple wallet to an unknown address.
? ? 75,000,000 #XRP (27,847,586 USD) transferred from Ripple to unknown wallethttps://t.co/2jet8wIVNF
— Whale Alert (@whale_alert) August 9, 2022
Ripple has recently been involved in these large XRP movements since the beginning of this month. Understandably, Ripple’s involvement in large XRP transactions could be related to a spike in On-Demand Liquidity (ODL) demand.
Recall that Ripple reported a 9x surge in ODL demands on YoY, which prompted the blockchain company to purchase XRP from secondary markets to service these clients.
More Recent XRP Transfers
Aside from the Ripple transaction, 30 million XRP ($10.89 million) moved from an unknown wallet to Bitso exchange, a member of Ripple’s ecosystem.
? 30,000,000 #XRP (10,890,198 USD) transferred from unknown wallet to #Bitsohttps://t.co/w3ElNDkKhc
— Whale Alert (@whale_alert) August 10, 2022
As expected, the Bitstamp exchange was also involved in the latest series of large XRP movements. Per Whale Alert, 60 million XRP worth $21.78 million at the time of the transaction were sent from an unknown wallet to Bitstamp.
? ? 60,000,000 #XRP (21,780,395 USD) transferred from unknown wallet to #Bitstamphttps://t.co/wXfOXQ2eQy
— Whale Alert (@whale_alert) August 10, 2022
Bitstamp was also involved in another XRP transfer. This time, 45,721,363 Ripple coins ($16.64 million) were sent from the exchange to an unknown wallet.
? 45,721,363 #XRP (16,637,327 USD) transferred from #Bitstamp to unknown wallethttps://t.co/okB5DJTax8
— Whale Alert (@whale_alert) August 10, 2022
Lastly, 59.3 million XRP coins were also moved from the Bitso exchange to an unknown wallet.
? ? 59,300,000 #XRP (21,739,687 USD) transferred from #Bitso to unknown wallethttps://t.co/qreWAzBMHn
— Whale Alert (@whale_alert) August 10, 2022
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Source: https://thecryptobasic.com/2022/08/10/xrp-shuffling-continue-375-million-xrp-moved-around-ripple-exchanges-and-unknown-wallets/?utm_source=rss&utm_medium=rss&utm_campaign=xrp-shuffling-continue-375-million-xrp-moved-around-ripple-exchanges-and-unknown-wallets