Crypto Whales Move Nearly $1 Billion in XRP – The Ripple Effect

Crypto whales are moving incredible amounts of XRP.

Whale Alert on Twitter tracked $989,999,892 worth of XRP – all transferred within a four hour span.  

The entire amount was split between five transactions. The largest transaction was 999,999,959 XRP, worth $348,507,596. The top three transactions all went to the same address, which now holds 2.6 billion XRP.

? ? ? ? ? ? ? ? ? ? 999,999,959 #XRP (348,507,596 USD) transferred from Unknown wallet to Unknown wallet

Tx: https://t.co/Ev8EewPGcu

— Whale Alert (@whale_alert) November 27, 2018

? ? ? ? ? ? ? ? ? ? 749,999,979 #XRP (261,380,701 USD) transferred from Ripple OTC Distribution wallet to Unknown wallet

Tx: https://t.co/iwtpyoQsxv

— Whale Alert (@whale_alert) November 27, 2018

? ? ? ? ? ? ? ? ? ? 850,335,027 #XRP (296,321,202 USD) transferred from Ripple OTC Distribution wallet to Unknown wallet

Tx: https://t.co/DRGaLQfWrl

— Whale Alert (@whale_alert) November 27, 2018

? 40,000,000 #XRP (13,951,639 USD) transferred from Ripple OTC Distribution wallet to Unknown wallet

Tx: https://t.co/ujebBfIYeE

— Whale Alert (@whale_alert) November 27, 2018

? ? ? ? ? ? 200,000,000 #XRP (69,838,754 USD) transferred from Ripple Escrow wallet to Ripple OTC Distribution wallet

Tx: https://t.co/DjgvGOdWjj

— Whale Alert (@whale_alert) November 27, 2018

A number of the transactions appear to be Ripple moving some of its huge holdings of XRP. Ripple owns 60% of the total supply, with the vast majority of that amount locked in escrow.

Ripple regularly sells its XRP over-the-counter (OTC). The company recently revealed it doubled its sales of XRP in Q3 of this year, selling a total of $163.33 million worth of the digital asset, compared to $73.53 million in the previous quarter.

Much of the increase is attributed to sales made directly to institutions. Ripple sold $98.06 million to institutions, compared to just $16.87 million in the second quarter.

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.