Trouble for Ripple (XRP) Price? This Whale Has Moved Nearly $25M in XRP to Exchanges

TL;DR

• A Ripple whale transferred approximately $25.93 million in XRP to Bitso and Bitstamp in two batches following market fluctuations due to false ETF news.
• The wallet, ending in h4Zrn and known for large XRP transfers, moved the funds amidst a 12% drop and subsequent 7% rebound in XRP’s value.
• Additional whale activities include substantial XRP movements by anonymous wallets and a notable transfer of 20 million XRP to Bitvavo.

Ripple-Related Whale Moves $25M in XRP

A Ripple whale has sent approximately $25,932,432 worth of XRP to Bitso and Bitstamp, two exchanges closely associated with Ripple. According to Whale Alert, the address transferred the funds in two different batches: one batch of 17,100,000 ($10,968,807) sent to Bitso and another set of 23,300,000 ($14,963,625) sent to Bitstamp.

🚨 23,300,000 #XRP (14,963,625 USD) transferred from unknown wallet to #Bitstamphttps://t.co/WPWcaYe59a

— Whale Alert (@whale_alert) November 15, 2023

The sender’s address, which ends in h4Zrn, sent the transactions a few days after XRP was hit following the fake news about BlackRock filing an XRP ETF, which a spokesperson immediately denied. The false report triggered a 12% drop, but XRP has rebounded with a 7% increase in the past 24 hours.

The wallet is one of the largest XRP movers, frequently transferring dozens of millions of XRP daily, according to data from Whale Alert. It is presumably related to Ripple Labs’ decacorn, which could be sending millions of XRP to fund Ripple’s operations. This is not out of the ordinary.

XRP Whales Moving Millions by the Day

Whale Alert data reveals owners of anonymous wallets have moved dozens of millions of XRP in the last 48 hours, involving purchases transferred to a cold wallet and some XRP sold.

Likewise, another massive whale transferred around 20M XRP to Bitvavo, which has witnessed around 3.4 trillion Shiba Inu transfers from the exchange to cold wallets. Bitvavo internally conducted crypto supply redistributions involving 3.4 trillion SHIB transactions, each valued at over $34 million in fiat.

Moreover, anonymous whale transactions suggest the market is in a state of price preparation, with multimillion-dollar transfers between unknown wallets. The latest price movements have analysts closely watching the charts. As CryptoPotato reported, popular crypto analyst Tony “The Bull” recently observed a chart pattern resembling 2017, hinting at a potential surge in XRP value akin to a previous 900% increase.