136 Million XRP in Three Hours – What’s Going On?

Popular blockchain tracker Whale Alert, which tracks down large cryptocurrency transfers and shares their details on the X platform, has reported that a substantial amount of XRP – close to 136 million coins – has been moved in the last twenty hours.

Notably, this staggering amount of cryptocurrency was transferred within merely three hours and went in four large transactions. The majority of these funds were withdrawn from the largest cryptocurrency exchange Binance by mysterious wallets.

Those transfers took place while the price of the seventh largest crypto XRP lost more than 7% over the weekend and since then has managed to recover by 3.52%. Over the past week, XRP skyrocketed by an enormous 26%.

136 million XRP on the move

According to the data shared by Whale Alert, anonymous whales made three transfers withdrawing millions of XRP from Binance in each of them. Those mammoth transactions carried 33,839,894 XRP, 35,937,321 XRP, and 35,937,321 XRP. Each of these XRP lumps is evaluated at approximately $20 million or slightly lower.

Thus, the enigmatic whales have withdrawn roughly $110 million worth of crypto to their wallet.

In the meantime, 28,070,000 XRP worth $14,936,884 were deposited to another major cryptocurrency trading venue – Bitstamp. The activity of whales has clearly increased along with the XRP price surge as can be seen thanks to this data supplied by Whale Alert.

Ripple CEO celebrates 1-year XRP-not-security verdict anniversary

This weekend, Ripple chief executive Brad Garlinghouse took to his X account to reminisce on a one year anniversary of the event that was very important not only for Ripple and its vast global community but also for the whole cryptocurrency space.

On July 13, 2023, the federal judge Analisa Torres announced her ruling which stated that XRP is not classified as a security when it comes to XRP sales in the secondary markets. Garlinghouse tweeted that for him personally that day is a core memory of a crucial victory scored by Ripple against the Security and Exchange Commission in court.

That even briefly pushed the XRP price to the $0.7 level but it then pretty fast returned to where it started. At the time of this writing, the Ripple-affiliated cryptocurrency XRP is changing hands at $0.53192.

About the author

Yuri Molchan

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets.

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.