Whale-watching bot Whale Alert initially spotted the transfers of deep-pocketed investors amounting to over $61.04 million worth of XRP.
One of the largest transfers in the past day involves a large whale relocating 50 million XRP worth $22.84 million from crypto exchange Bitso to a wallet of unknown origin.
? ? 50,800,000 #XRP (22,840,638 USD) transferred from #Bitso to unknown wallethttps://t.co/qtoDMKhtk8
— Whale Alert (@whale_alert) March 26, 2023
A second whale shifted a total of 55 million XRP worth $24.64 million from an unknown wallet to two different crypto exchanges, where they could potentially be sold on the open market. The whale in question first relocated 23 million XRP worth $10.36 million from an unknown wallet to Bitso. In a second transaction, the same whale transferred 32 million XRP worth $14.28 million to Bitstamp.
A third whale moved 30 million XRP worth $13.56 million from crypto exchange Upbit to a wallet of unknown origin.
XRP explorer Bithomp shows that it costs virtually nothing to transfers tens of millions of dollars worth of the sixth-largest crypto asset.
The whale transfers come after XRP rallied big last week. The top altcoin surged from last week’s low of $0.37 to a high of $0.49, marking an increase of more than 32% in just seven days.
XRP has given up some of its gains since last week’s high and is trading for $0.447 at time of writing.
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Featured Image: Shutterstock/Mia Stendal
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