According to recent tweets from Whale Alert, two unidentified whales have withdrew more than 850 million XRP in only two transactions from the EU-based cryptocurrency exchange Bitvavo when XRP is selling at a discount.
On Friday, the first XRP chunk was sent, and today, the second. In addition, someone is selling almost 30 million XRP on a different significant exchange with a European base.
XRP is still trading sideways in the meanwhile, but during the last day, the price has slightly declined, losing about 2.34% of its worth.
850 million XRP on the move, here’s what’s driven it
The cryptocurrency tracking bot Whale Alert has said that within the last day, it has discovered two enormous XRP transactions that each included tens of millions or maybe billions of XRP tokens.
The larger one moved this enormous chunk of cryptocurrency from the Bitvavo exchange to an unidentified wallet, moving a total of 425,118,503 XRP.
This is equal to $224,906,760 US dollars. On Friday, August 25, a comparable sum of XRP (425,868,525) was moved from Bitvavo, bringing the total to over a billion XRP (more than 950 million tokens) that were taken from that cryptocurrency exchange to anonymous digital wallets.
However, data provided by XRP-focused site Bithomp shows that both of these enormous XRP lumps were transferred to addresses connected to the Bitvavo exchange, making it clear that Bitvavo was just transferring its XRP bags around internal wallets.
Close to 30 million moved to be sold
The aforementioned cryptocurrency tracker also discovered a large number of XRP that was transferred to a prominent exchange, Bitstamp, with the apparent aim of selling it later. A total of 28,400,000 XRP were transferred. The value of this Ripple-related cryptocurrency is $14,921,752.
Thus, over the last weekend, 879.3 million XRP coins have moved altogether.
