A significant chunk of XRP currencies has been moved to Bitstamp, one of the top cryptocurrency exchanges, according to cryptocurrency tracker Whale Alert.
The nature of this transaction caused a stir in the Ripple community, as several observers offered their opinions under the tweet.
Millions of XRP on move, sender unveiled
The previously mentioned data source revealed that 28,940,000 XRP coins connected to Ripple were moved by an unidentified whale about 15 hours ago. The destination was Bitstamp, a well-known bitcoin trading site. The estimated value of this coin is $14,229,498.
The potential sale of this substantial XRP piece sparked a contentious debate among the XRP army. A commenter on X/Twitter speculated that the anonymous sender was really Ripple Labs, who had sent a large amount of XRP to Bitstamp, one of its payment systems (Ripple Payments was formerly known as On-Demand Liquidity [ODL] until last October).
https://x.com/XRPwallets/status/1780414382830162199
information from XRP Explorer Bithomp has provided confirmation of this supposition on its website by disclosing the transfer data.
258 million XRP moved to and from Binance
https://x.com/whale_alert/status/1780224779099758979
According to the cryptocurrency tracker mentioned above, four much larger XRP transfers—one of which was a massive one—were logged about twenty-one hours ago. Between anonymous wallets and the Binance exchange, these hundreds of millions of XRP were exchanged.
Three transactions worth nearly $16,280,840 each, totaling approximately 33,333,329 XRP, were transferred to the cryptocurrency exchange indicated above. Once XRP reached the anonymous wallet, it was moved to popular Korean platforms Upbit and Bithumb. Specific information about the identify of the whale was not disclosed.
A massive 158,473,000 XRP was taken out of Binance and transferred to an unidentified blockchain wallet in the meanwhile. The evaluation of this XRP chunk is $77,333,753.
https://x.com/whale_alert/status/1780223303967220065
Whale Alert has detected larger XRP transfers this week than this one. A staggering transfer of 390,869,591 XRP was conducted to the major South Korean exchange Bithumb on April 15, according to the tracker.
The price of XRP has been trying hard since Saturday to bounce back after the amazing 29% decline it experienced on Friday. In the past week, XRP has increased by 14.85%. On the other hand, the chart of XRP, the seventh-largest cryptocurrency, has been going sideways.
