XRP whales just moved nearly half a billion dollars worth of the sixth-largest crypto asset.
Within a 12-hour period on Friday and Saturday, deep-pocketed entities relocated more than $470 million worth of XRP, according to the crypto tracker Whale Alert.
The largest single transaction of the weekend’s whale spree happened when an unknown investor sent Ripple a whopping 218,682,480 XRP worth more than $280 million.
— Whale Alert (@whale_alert) September 3, 2021
Traders also witnessed increased activity from Ripple as the San Francisco-based payments company also sent a total of 65,000,000 XRP across three separate transactions.
The company, which owns more than half of the 100 billion XRP in existence, moved 40,000 XRP worth more than $51 million to a wallet of unknown origins. The payments firm also relocated 15,000,000 XRP worth over $19 million to another unknown wallet and 10,000,000 XRP worth nearly $13 million to a third wallet of unknown origins.
Meanwhile, an unknown entity sent 70,000,000 XRP worth more than $90 million to a wallet of unknown origin.
Lastly, a large entity shifted 20,000,000 XRP worth nearly $26 million from crypto exchange Bittrex to an unknown wallet.
XRP is trading at $1.37 at time of writing and is up more than 24% in the past week and nearly 70% in the past month, according to CoinGecko. Despite the rise in price, the sixth-ranked crypto asset by market cap is still down nearly 60% from its all-time high of $3.40, which it reached in early 2018.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Tithi Luadthong
The post Whales Abruptly Relocate Nearly $500,000,000 in XRP in Just 12 Hours As Crypto Markets Take Off appeared first on The Daily Hodl.
