Ripple whale moves coins to and from various exchanges, but price doesn’t respond
The Whale Alert transaction tracking service has just shared abnormal transaction activity on the Ripple blockchain that indicates that an unknown person has been transferring a large amount of coins between various exchanges.
According to the page, many wallets from different exchanges were involved, including relatively small exchanges like Gopax and Bitso and a much larger exchange, Binance.
The transaction was made with an interval of around one hour. The transaction amount starts from 11 million XRP coins, and the largest transaction was 20 million coins. The further use of the coins remains unknown.
The price of the coin itself has yet to respond to the large transaction volume on the blockchain. Currently, coins remain on smaller exchanges. All transactions have been made from exchange to exchange wallets, except a transaction worth 20 million XRP coins.
Some users speculated that the multiple trades were related to a whale level owner trying to redistribute his assets between various exchanges.
As for the assets’ market performance: XRP is still moving in the range formed back on Nov. 17. The coin underwent several tests of the upper limit of the range, but failed to come out. Currently, Ripple is gaining 1.8% of its value following the global recovery in the altcoin market.
