XRP Whales On The Move Again, As Altcoin Records Significant Utility Spikes

Name	Symbol	Market	Market Cap ($)	Algorithm
Ripple	XRPUSD	Crypto	31,976,794,575	Not Mineable

Name

Symbol

Market

Market Cap ($)

Algorithm

Ripple

XRPUSD

Crypto

31,976,794,575

Not Mineable

	Price Change	Price Change %	Current Price	Bid Price	Offer
	0.0523	9.72%	0.5901	0.590	0.5901

Price Change

Price Change %

Current Price

Bid Price

Offer

0.0523

9.72%

0.5901

0.590

0.5901

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.5946	0.5326	0.538	0.5378	0.382490 - 0.852600

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.5946

0.5326

0.538

0.5378

0.382490 - 0.852600

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	18:24:35	1,070.22	0.5901	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

18:24:35

1,070.22

0.5901

USD

Price x Volume	Volume	Base Symbol	Related Pairs
98,760,161.94	175,161,879.08	XRP	XRPEUR	XRPGBP	XRPBTC

Price x Volume

Volume

Base Symbol

Related Pairs

98,760,161.94

175,161,879.08

XRP Whales On The Move Again, As Altcoin Records Significant Utility Spikes

02/09/2023 4:30pm

NEWSBTC

In the last 48 hours, the XRP market has witnessed a significant amount of large-scale transactions, drawing much attention from the general crypto space. According to data from blockchain tracker Whale Alert, XRP whales conducted transactions involving over a billion XRP on Friday, September 1. Related Reading: XRP Price Prediction – Topside Bias Vulnerable Unless Bulls Clear This Hurdle Ripple Transfers 75 Million XRP To Unknown Wallet In Whale Buying Spree Through a series of posts by Whale Alert on social media platform X (formerly Twitter), it can be inferred that the XRP market witnessed four major whale transactions. The biggest of these transactions was the transfer of 424,354,912 XRP – valued at $214,293,666 – from one unknown wallet to the other. In this context, unknown wallets refer to addresses with no affiliation to a crypto exchange. Furthermore, there was the move of XRP, 19,920,318 XRP worth $10,167,904, from another unknown wallet to the Binance exchange. It was also noted that a whale transferred 66,666,659 XRP, worth $33,065, 809 from an unknown wallet to the Binance exchange. However, the most notable transaction that caught most traders’ eye came from Ripple, the company behind the XRP cryptocurrency. Whale Alert reported that Ripple transferred 75,000,000 XRP, worth $37,058,145, from its Binance wallet to an unknown wallet. Following this move, some crypto enthusiasts believe that this particular unknown wallet also belongs to Ripple, as the company could be intending to soon offload those tokens on an exchange. This speculation has led to most investors predicting an incoming market dump. Ripple also conducted other transactions on September 1, locking about 800,000,000 XRP in escrow. However, this does not raise any concern as the crypto payment firm is known to release 1,000,000,000 XRP at the start of every month before proceeding to lock up about 80% of the new tokens a few hours later. Related Reading: XRP Price Prediction for 2023, 2024, 2025, 2030 and Beyond XRP Records 7-Month Highest Transaction Volume Among Other Positives Following the massive transactions in the XRP market, on-chain analytics firm Santiment has provided a report highlighting some of the effects of these whale movements. According to an X post on September 1, Santiment reports an on-chain transaction volume of 4.8 billion XRP, marking the seven highest value of this metric in the XRP market over the last seven months. The analytics firm also noted that there are currently about 2.03 billion XRP in circulation, representing the token’s highest-circulating supply since May 31. In addition, XRP development activity was also reported to be on the high side. At the time of writing, XRP still finds itself struggling amid a general market downturn. The fifth-largest cryptocurrency trades at $0.4983 with a 1.88% loss in the last day, according to data from CoinMarketCap. XRP trading at XRPUSD on the daily chart | Source: XRPUSD chart on Tradingview.com Featured image from Unsplash, chart from Tradingview.

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XRPUSD Ripple