Whales Moved a Massive Amount of Crypto Following the Recent XRP Price Rise
According to several tweets recently posted by Whale Alert crypto tracker, over the past 16 hours, a staggering amount of XRP tokens has been shoveled by major cryptocurrency wallets.
The largest XRP chunk among these totals nearly 222 million tokens.
Nearly 350 million XRP transferred
The aforementioned crypto tracker shared details of four consecutive transfers that carried 48,700,000; 34,000,000 and 32,000,000 XRP. On top of that, 221,500,000 XRP tokens were moved between wallets that Whale Alert marked as “unknown”.
The Bithomp XRP-focused analytics platform, however, reported that these 221.5 million XRP were mined from a wallet linked to the Binance exchange. The destination was the US-based Bittrex platform.
Bittrex wallets were also spotted in the rest of these transfers. Whales shoveled 34,000,000 and 32,000,000 XRP to Bitstamp wallets.
— Whale Alert (@whale_alert) January 22, 2023
The price of XRP is rising
According to data shared by CoinMarketCap, in the past 24 hours, the price of sixth largest cryptocurrency XRP, jumped about 4%. This rise continues the overall nearly 10% increase the token has seen over the past seven days.
As of this writing, XRP is changing hands at the $0.4211 level. One of the main reasons for this rise is the recent growth of crypto flagship Bitcoin. Over the weekend, it managed to briefly break above the $23,000 level.