317 Million XRP Shuffled Among Ripple, Exchanges, and Unknown Wallets

Whale Alert continues to track large movements of XRP coins among whales. 

It has become a norm to see large movements of Ripple (XRP) transfers from addresses on popular cryptocurrency exchanges to unknown wallets and vice versa. 

Whale Alert, a cryptocurrency whale tracking platform, tweeted that a total of 317,836,767 (nearly 317.84 million) XRP were shuffled in the last 24 hours. 

The transactions involved popular cryptocurrency exchanges like Bitstamp, FTX, and Bitso. At the current exchange rate, the funds were worth $106.54 million. 

Details of the XRP Movement

According to Whale Alert, a total of 30 million XRP coins were sent from an unknown wallet to an address on the Bitstamp exchange. The funds were worth approximately $10.04 million at the time of the transaction. 

? 30,000,000 #XRP (10,036,714 USD) transferred from unknown wallet to #Bitstamphttps://t.co/FoV6gE3xcM

— Whale Alert (@whale_alert) August 22, 2022

Interestingly, it did not take long before Whale Alert noticed another large movement of XRP. The funds moved from an FTX address to an unnamed crypto wallet this time.  

Per transaction details shared by Whale Alert, 120 million XRP worth $40.15 million were transferred from FTX exchange to an unknown wallet. 

? ? ? ? 120,000,000 #XRP (40,148,142 USD) transferred from #FTX to unknown wallethttps://t.co/s6E2BCB8aG

— Whale Alert (@whale_alert) August 22, 2022

Ripple Also Involved in Latest XRP Movement

Meanwhile, Ripple was involved in the latest round of XRP shuffling as the Silicon Valley tech company transferred 60 million XRP coins to an unknown wallet. 

At the time of the transaction, Whale Alert noted that the funds were worth $20.76 million. 

? ? 60,000,000 #XRP (20,761,627 USD) transferred from Ripple to unknown wallethttps://t.co/0ib3t2316g

— Whale Alert (@whale_alert) August 23, 2022

It is worth noting that the vast majority of XRP transfers involving Ripple are sold to the company’s On-Demand Liquidity (ODL) clients. 

The number of Ripple’s ODL clients has skyrocketed recently, prompting the company to purchase XRP from secondary markets to meet their needs. 

Other Large XRP Transfers

Furthermore, the cryptocurrency whale tracking service observed the movement of 40 million XRP coins ($13.68 million) from an unknown wallet to a Bitstamp address. 

? 40,000,000 #XRP (13,683,782 USD) transferred from unknown wallet to #Bitstamphttps://t.co/8tFedwBKWf

— Whale Alert (@whale_alert) August 23, 2022

In a reverse transaction, a total of 37,836,767 (37.83 million) XRP, worth around $12.86 million, were transferred from another Bitstamp address to an unknown wallet. 

? 37,836,767 #XRP (12,858,048 USD) transferred from #Bitstamp to unknown wallethttps://t.co/YMpDaxPz7K

— Whale Alert (@whale_alert) August 23, 2022

Finally, 30 million XRP were sent from an unknown wallet to the Bitso exchange, with the funds worth $10.18 million at the time of the transaction. 

? 30,000,000 #XRP (10,184,901 USD) transferred from unknown wallet to #Bitsohttps://t.co/t6ZFYY7Tje

— Whale Alert (@whale_alert) August 23, 2022

Source