Massive amount of XRP purchased by this anonymous investor while the coin’s performance remains questionable
An anonymous XRP wallet received a massive volume of coins worth around $74 million as the asset remains in the extended consolidation range.
According to the transaction page on WhaleAlert tracking service, 100 million XRP were wired from the major exchange to an unmarked wallet that currently holds slightly more than 100 million coins.
The final destination of funds remains unclear as the wallet constantly redistributes received funds to smaller entities, but at the same time it is not tied to any other exchange or OTC trading desk.
Since funds have been received directly from an exchange that requires KYC procedures for withdrawing digital assets, the whale’s identity is most likely known to the exchange’s representatives.
As the activity of the wallet suggests, it may in fact be owned by large private investors rather than centralized or decentralized services. The most recent transaction was made on March 7 when the whale transferred 1.6 million XRP to the exchange.
XRP’s movement on the market
XRP, like the majority of digital assets on the market, is failing to break through the same range we saw on Bitcoin. At press time, XRP trades at the mid-February level, which shows that it follows the general uncertain trend.
With liquidity and trading volumes dropping massively in the cryptocurrency market, XRP, just like other cryptocurrencies, fails to break through a major resistance point like trendline resistance or trendline resistance. 200-day moving average.
