Whale activity rises as XRP retraces and fails to start another bullish rally
XRP whale activity increases as the coin loses a small part of its previously gained value. Two transactions, both worth approximately $50 million, appeared on the Ripple blockchain.
First operation
The first noticed on-chain transaction was made either between Bithumb wallets or directly inside its platform. The large sum was moved between two hot wallets.
According to the wallet page on the blockchain explorer, the two wallets hold more than 200 million XRP and are constantly making various transactions to smaller addresses. Entities are more likely being used as hot wallets for making withdrawals on the exchange or creating orders on the market.
Second anonymous transactions
While the first transaction was between two known entities, the second transaction remains completely anonymous, with two wallets worth a total of $ 212 million.
The smaller wallet that holds “only” three million coins is being tied to a centralized exchange, while the more significant “whale” wallet remains anonymous and is most likely not tied to any exchange. The total holdings of the second wallet are staying at 200 million.
At the time of going to press, XRP is trading at $ 0.97 and is losing about 3% of its value this week, whereas it had previously gained more than 14% since the most recent reversal.
