Whale Abruptly Moves 220,000,000 XRP – Here's Where the Crypto Is Going

Whale Abruptly Moves 220,000,000 XRP – Here’s Where the Crypto Is Going

19 February 2021

in XRP

Reading Time: 2 mins read

A multi million-dollar stash of XRP is on the move.

The blockchain tracker Whale Alert has spotted more than 220 million XRP worth about $122 million heading from Coinbase to an unknown wallet.

The fee for the huge transfer was just 20 XRP worth about $1.05.

The transaction comes nearly a month after trading of the seventh-largest cryptocurrency by market cap was suspended on Coinbase.

Users can still move their XRP off of the exchange to a private wallet. This means the owner of the XRP in question could be preparing to move it to another exchange where it can still be traded, or is simply tucking it away for safekeeping.

XRP trading has been suspended on a long list of US-based crypto exchanges following the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Ripple Labs, which asserts that XRP is an unregistered security and alleges that Ripple violated securities laws by selling the digital asset.

Meanwhile, Bitcoin and Ethereum whales are also moving massive amounts of crypto. Six of the largest BTC transactions in the last 48 hours moved 1,000 Bitcoin or more. A substantial number of the transactions involved transfers between unknown wallets.

• 2,772 BTC worth $141 million sent from unknown wallet to unknown wallet
• 2,222 BTC worth $115 million sent from unknown wallet to unknown wallet
• 2,000 BTC worth $104 million sent from unknown wallet to unknown wallet
• 1,390 BTC worth $71 million sent from Coinbase to Xapo
• 1,047 BTC worth $54 million sent from Coinbase to unknown wallet
• 1,017 BTC worth $52 million sent from unknown wallet to Coinbase

In the same time span, five Ethereum whales moved at least 20,000 ETH each from unknown wallets to unknown wallets.

• 224,430 ETH worth $428 million sent from unknown wallet to unknown wallet
• 50,800 ETH worth $91 million sent from unknown wallet to unknown wallet
• 28,764 ETH worth $52 million sent from unknown wallet to unknown wallet
• 21,400 ETH worth $38 million sent from unknown wallet to unknown wallet
• 20,313 ETH worth $36 million sent from unknown wallet to unknown wallet

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