Cryptocurrency tracker Whale Alert has detected a massive lump of XRP coins transferred to one of the leading crypto exchanges, Bitstamp.
This transfer made ripples within the Ripple community as many commentators shared their takes under the tweet as to the nature of this transaction.
Millions of XRP on move, sender unveiled
The aforesaid data source shared that, approximately 15 hours ago, an anonymous whale transferred a total of 28,940,000 Ripple-affiliated XRP coins. The destination was major cryptocurrency trading platform Bitstamp. This amount of cryptocurrency is evaluated at $14,229,498.
The XRP army started a heated discussion about the possible seller of this large XRP chunk. One X/Twitter user suggested that the anonymous sender was none other than Ripple Labs, transferring a multi-million XRP lump to one of its payments platforms (“Ripple Payments” used to be known as On-Demand Liquidity [ODL] until last October) – Bitstamp.
Ripple to ODL
XRP Sourced from Ripple holdings, Binance, and Bitgo.
— XRP_LIQUIDITY (@XRPwallets) April 17, 2024
Data provided by XRP explorer Bithomp has confirmed this assumption by sharing the details of the transfer on its website.
258 million XRP moved to and from Binance
The same cryptocurrency tracker as above shared that approximately 21 hours ago, it registered four even larger XRP transfers, with one of them being a gigantic one. These hundreds of millions of XRP circulated between anonymous wallets and the Binance exchange.
Three transactions, carrying roughly 33,333,329 XRP each (and worth approximately $16,280,840 each), were sent to the above-mentioned crypto exchange. After hitting the anonymous wallet, XRP was transferred to leading Korean platforms Bithumb and Upbit. No particular data regarding the whale’s identity was shared.
🚨 33,333,330 #XRP (16,280,841 USD) transferred from #Binance to unknown wallethttps://t.co/5TlmYXd9hk
— Whale Alert (@whale_alert) April 16, 2024
Meanwhile, a mammoth XRP amount of 158,473,000 XRP was withdrawn from Binance to an unknown blockchain wallet. This XRP lump is evaluated at $77,333,753.
🚨 🚨 🚨 🚨 158,473,000 #XRP (77,333,753 USD) transferred from unknown wallet to #Binancehttps://t.co/LfuKq07FZp
— Whale Alert (@whale_alert) April 16, 2024
This was not the largest XRP transfer spotted by Whale Alert this week. On April 15, the tracker registered a mind-blowing transfer of 390,869,591 XRP made to large South Korean exchange Bithumb.
Since Saturday, the XRP price has been making numerous attempts to recover from its tremendous 29% collapse faced on Friday. Since the weekend, XRP has recovered by 14.85%. However, the seventh largest cryptocurrency, XRP has been moving sideways on the chart.
