$100 Million Worth of XRP Moved By Whales Amid 3% Correction

Please fol­low and like us:
Pin Share


article image
Arman Shirinyan

Whale activ­i­ty ris­es as XRP retraces and fails to start anoth­er bull­ish rally

Dis­claimer: The opin­ion expressed here is not invest­ment advice – it is pro­vid­ed for infor­ma­tion­al pur­pos­es only. It does not nec­es­sar­i­ly reflect the opin­ion of U.Today. Every invest­ment and all trad­ing involves risk, so you should always per­form your own research pri­or to mak­ing deci­sions. We do not rec­om­mend invest­ing mon­ey you can­not afford to lose.

Con­tents

XRP whale activ­i­ty increas­es as the coin los­es a small part of its pre­vi­ous­ly gained val­ue. Two trans­ac­tions, both worth approx­i­mate­ly $50 mil­lion, appeared on the Rip­ple blockchain.

First transaction

The first on-chain trans­ac­tion noticed was made either between Bithumb wal­lets or direct­ly inside of its plat­form. The large sum was moved between two hot wallets.

Accord­ing to the wal­let page on the blockchain explor­er, the two wal­lets hold more than 200 mil­lion XRP and are con­stant­ly mak­ing var­i­ous trans­ac­tions to small­er address­es. Enti­ties are more like­ly being used as hot wal­lets for mak­ing with­drawals on the exchange or cre­at­ing orders on the market.

Second anonymous transactions

While the first trans­ac­tion was made between two known enti­ties, the sec­ond trans­ac­tion remains com­plete­ly anony­mous, with two wal­lets with a total worth of $212 million.

Ripple Daily Chart
Source: Trad­ingView

The small­er wal­let that holds “only” three mil­lion coins is being tied to a cen­tral­ized exchange, while the more sig­nif­i­cant “whale” wal­let remains anony­mous and is most like­ly not tied to any exchange. The total hold­ings of the sec­ond wal­let are stay­ing at 200 million.

At press time, XRP is trad­ing at $0.97 and los­ing approx­i­mate­ly 3% of its val­ue this week, while pre­vi­ous­ly gain­ing more than 14% since the most recent reversal.



Source link

Please fol­low and like us:
Pin Share

Leave a Reply

Your email address will not be published. Required fields are marked *