Market sees half a billion XRP transferred while XRP price drops from the $0.5 high
According to data published by Whale Alert, over the past two days, XRP whales have removed more than half a billion of Ripple-affiliated tokens.
More than half of this amount was transferred in chunks of 100 million or bigger. These transactions took place while XRP price dropped from the recently reached $0.5 high.
572 Million XRP Moving
The Whale Alert crypto tracker saw thirteen large transactions move bales of 22 million to 40 million XRP between wallets located on top centralized exchanges, such as Ripple ODL partners Bitso, Bitstamp, Binance, Bittrex, etc.
However, three transactions here stand separately, since their size in enormous – 122 million, and two transfers of 100 million each.
It looks like investors are redistributing their XRP reserves and possibly selling some of them after XRP fell earlier this week.
XRP loses important $0.5 price level
On October 9, the sixth largest crypto XRP topped the local high of $0.548 and then starting declining. Within a day from that moment, XRP lost 20 percent of its recent gains.
According to CoinMarketCap data, at press-time, XRP is trading at $0.4805 after falling 4% over the past 24 hours.
