XRP whales just moved nearly half a billion dollars worth of the sixth-largest crypto asset.
Within a 12-hour period on Friday and Saturday, deep-pocketed entities relocated more than $470 million worth of XRP, according to the crypto tracker Whale Alert.
The largest single transaction of the weekend’s whale spree happened when an unknown investor sent Ripple a whopping 218,682,480 XRP worth more than $280 million.
? ? ? ? ? ? ? ? ? ? 218,682,488 #XRP (280,331,182 USD) transferred from unknown wallet to Ripplehttps://t.co/G5xRcI8ShQ
— Whale Alert (@whale_alert) September 3, 2021
Traders also witnessed increased activity from Ripple as the San Francisco-based payments company also sent a total of 65,000,000 XRP across three separate transactions.
The company, which owns more than half of the 100 billion XRP in existence, moved 40,000 XRP worth more than $51 million to a wallet of unknown origins. The payments firm also relocated 15,000,000 XRP worth over $19 million to another unknown wallet and 10,000,000 XRP worth nearly $13 million to a third wallet of unknown origins.
Meanwhile, an unknown entity sent 70,000,000 XRP worth more than $90 million to a wallet of unknown origin.
Lastly, a large entity shifted 20,000,000 XRP worth nearly $26 million from crypto exchange Bittrex to an unknown wallet.
XRP is trading at $1.37 at time of writing and is up more than 24% in the past week and nearly 70% in the past month, according to CoinGecko. Despite the rise in price, the sixth-ranked crypto asset by market cap is still down nearly 60% from its all-time high of $3.40, which it reached in early 2018.Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
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Featured Image: Shutterstock/Tithi Luadthong