Popular cryptocurrency tracking bot Whale Alert has spotted increased activity of XRP whales over the past 24 hours as more than half a trillion XRP have been transferred.
Amid this whale activity, several new XRP whales have entered the cryptocurrency market.
🚨 🚨 🚨 121,399,830 #XRP (62,433,624 USD) transferred from unknown wallet to unknown new wallethttps://t.co/8az8aFt7ee
— Whale Alert (@whale_alert) January 24, 2024
Hundreds of millions of XRP moved as new XRP whales emerge
The above-mentioned on-chain data source detected six crypto transactions overall, two of which carried more than 120 million XRP and one that moved almost 200 million. The majority of these transactions were received by wallets tagged by Whale Alert as “unknown new” ones.
Three of the six transactions were marked as withdrawals from major European cryptocurrency exchange Bitvavo based in the Netherlands. Those XRP chunks contained 123,112,280 XRP; 196,399,896 XRP and 25,000,000 XRP, cumulatively evaluated at $177,500,00 in fiat.
Curiously enough, all of these three transactions were moved to new wallet addresses, which may suggest that three new cryptocurrency whales have emerged as they acquired hundreds of millions of XRP.
🚨 🚨 🚨 🚨 🚨 196,399,896 #XRP (101,473,066 USD) transferred from #Bitvavo to unknown new wallethttps://t.co/Ulfa6kfjk1
— Whale Alert (@whale_alert) January 24, 2024
50 million XRP transferred to centralized exchanges
Among the aforementioned six transfers were two that were not involved with the Bitvavo exchange. Contrary to those withdrawals, these XRP chunks were deposited to major cryptocurrency trading platforms Bitstamp and Bitso.
Whale Alert registered 21,800,000 XRP and 28,200,000 XRP chunks (worth $11,185,280 and $14,469,021) transacted to those platforms from anonymous digital wallets.
A deeper look at the details provided by the XRP-focused explorer Bithomp show that both transactions were made from the same wallet address associated with Ripple Labs blockchain decacorn. It is worth mentioning that both Bitstamp and Bitso collaborate with this fintech giant as they provide bases for Ripple’s transnational payment service, which runs on RippleNet and leverages XRP for fast and low-cost payments to various corners of the world.
Until the fall of 2023, it was widely known as On-Demand Liquidity, but then Ripple made a decision to rebrand it as simply “Ripple Payments” to make it clearer for outsiders and attract more new customers.
Max Keiser issues bearish XRP predictions
Bitcoin maximalist Max Keiser published two tweets earlier this week, slamming XRP and calling it “centralized garbage.”
Keiser expects XRP to fall to zero against Bitcoin, since BTC for him is the only decentralized commodity and money out there.
