Recent X postings from Whale Alert claim that throughout the last 14 hours, San Francisco-based crypto decacorn Ripple Labs pumped nearly 80 million XRP into a wallet that was flagged as “unknown.”
Whale Alert also discovered another transaction in which 30 million XRP were sent from an unidentified address to the Bitstamp exchange.
https://x.com/whale_alert/status/1703900107140218995?s=20
Ripple transfers 105 million
The second transaction was started by a wallet linked to Ripple, according to information provided by the XRP-focused analytics firm Bithomp. This indicates that the blockchain giant is once again transferring a sizable amount of cryptocurrency – 30,000,000 XRP — to sell on Bitstamp.
These two transactions total 105,000,000 XRP coins, or $52.8 million in currency equivalent, when combined with the previously reported 75,000,000 XRP.
According to Bithomp, 46,000,000 XRP were transmitted to an unidentified address after Ripple moved the 75,000,000 XRP to one of its wallets. This appears to be an OTC transaction or a fund redistribution by the industry titan of the blockchain.
https://x.com/whale_alert/status/1703863478312661124?s=20
Ripple received a startling 100,000,000 XRP from an unidentified address over the weekend. This turned out to be a wallet for the Canadian cryptocurrency exchange SideShift. The motivations behind this move are yet unknown, however Bithomp has previously observed such transfers from the Binance behemoth to Ripple’s accounts. Both parties remained silent on those moves as well.
Positive XRP price performance
The cost of XRP, the fifth-largest cryptocurrency, has grown by 4.38% since Monday. The coin’s price increased once again today following a brief decline, showing an overall increase of 3.96% from Monday.
On the aforementioned Bitstamp platform, XRP is now being traded at $0.50896 at the time of writing.
