Crypto whale watchers are tracking a number of giant XRP transfers.
The most recent transaction sent 100 million XRP, worth $31.2 million, from one unknown wallet to another on Wednesday.
🚨 🚨 🚨 100,000,000 #XRP (31,273,895 USD) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) August 7, 2019
Traders speculated the move could be Ripple selling a portion of its XRP holdings to an institution or crypto exchange. However, those transfers typically come from previously identified Ripple wallets that are known for distributing XRP over-the-counter.
The transfer followed a move of 15 million XRP on Tuesday from a wallet of unknown origin to the crypto exchange Bittrex, and a move of 17 million XRP from an unknown wallet to the exchange Gatehub on Monday.
- 15,499,503 XRP worth 4.8 million transferred from unknown wallet to Bittrex
- 17,908,787 XRP worth $5.7 million transferred from unknown wallet to Gatehub
The biggest whale of the week also splashed onto the scene on Monday, when someone moved 300,666,888 XRP (then worth about $96 million).
That transfer was sent from the crypto exchange Binance to an unknown wallet.
— Whale Alert (@whale_alert) August 5, 2019
Bitcoin and Ethereum whales have been relatively quiet since Monday when 14,501 BTC worth $168.6 million was transferred in four separate transactions, as well as 308,268 ETH worth $71.8 million across two transactions.