The cryptocurrency wallet tracker Whale Alert, which publishes information on significant transactions made by whales and cryptocurrency exchanges, has detected an astounding volume of XRP transferred by anonymous wallets and Ripple fintech decacorn throughout the last day.
https://x.com/whale_alert/status/1739586348778938677?s=20
The XRP community has been speculating on who may have carried out these large-scale XRP transactions and if they would have affected the coin’s price in the interim. The latter has shown a little rise.
Binance shovels 440 million XRP
The aforementioned source announced four significant transactions that transferred startlingly enormous amounts of the cryptocurrency linked to Ripple. The largest piece, valued at $185,083,895, contains 300,000,000 XRP. The smaller one has $86,206,784 worth of 139,374,499 XRP in it.
Here, these were the two most significant transactions. A withdrawal from Binance to an anonymous blockchain wallet was the first. Furthermore, information provided by XRP-focused explorer Bithomp reveals that 139 million XRP were indeed moved between two Binance exchange wallets. Both of the 300 million XRP transfers were internal transfers performed by the biggest cryptocurrency trading platform since their destination was an address connected to Binance.
Almost 100 million XRP transferred by Ripple
The two transactions shown in the most recent tweet from Whale Alert are worth 70,000,000 XRP and 27,800,000 XRP, or $43,171,395 and $17,198,375 in fiat money, respectively.
The 70 million dollar transfer was made by a major player in the Ripple fintech space, and it went in an unidentified route. An anonymous wallet started the 27.8 million transfer, which was delivered to the Bitstamp bitcoin exchange.
However, Bithomp has disclosed that the previous transaction was transferred to a Ripple wallet, making it an internal XRP transfer. Regarding the latter, Bithomp claims that a wallet tied to Ripple made the transfer to Bitstamp. This exchange is one of the bitcoin trading sites that works with Ripple to enable the “Ripple Payments” network, which is powered by RippleNet and guarantees quick and affordable international payments using XRP. Prior to this autumn, it was commonly referred to as On-Demand Liquidity. In order to make things simpler for consumers and users who are not tech-savvy or knowledgeable with cryptocurrencies, Ripple decided to rename it.
