What Are Whales Doing With 592 Million XRP?

Whales exchanged a total of 592,258,033 XRP (worth $227,439,311) in six different transactions throughout the previous day.

Whale activity has significantly increased in Ripple's native cryptocurrency, XRP. However, as the Ripple vs. SEC lawsuit is getting closer to a decision, crypto whales have been on an XRP accumulating rampage. The tracker revealed that a total of 592,258,033 XRP (worth $227,439,311) was transferred throughout the network in only six different transactions.

XRP and Crypto Whales: A Strange Scent

Mysterious whales shifted 592.25 million XRP tokens in six different transactions, according to Whale Alerts, an on-chain tool that analyses whale transaction data. The greatest of the six transactions saw a whale moving 232,000,000 XRP worth $88.721,867 from one unknown address to another unknown wallet.

A second whale did the same thing, moving 218,000,000 XRP worth $84,153,392 from one unidentified wallet to another unidentified wallet. 63,000,000 XRP worth $24,213,047 were transferred from unidentified wallets to the cryptocurrency exchange Bitstamp in the third and fourth transactions.

A crypto whale transferred 44,000,000 XRP tokens worth 16.869,516 from the cryptocurrency exchange Bitso to an unidentified wallet in the fifth transaction. The final exchange involved the transfer of 35,258,033 XRP from the Binance exchange to an unidentified wallet. XRP news may be found here.

A Deeper Shade of Red

The price of XRP is $0.3644 at the time of writing. The market valuation of the sixth-ranked cryptocurrency has decreased by more than 4.88% over the last day. Additionally, XRP has decreased by over 5.79% since its one-month peak.

Since there were no developments about the Ripple v. SEC lawsuit to divert investors, the overall gloomy sentiment in the cryptocurrency market put XRP in a deep shade of red.

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