Crypto Whale Begins To Move, Moves Tens Of Millions Of XRP Coins

The entity that owns the largest crypto or whale has started moving its XRP crypto asset. (Photo; Doc. Cryptopolitan)

JAKARTA - XRP, one of the most prominent digital currencies in the crypto market, attracted public attention on Tuesday after a massive transfer by XRP holders in large quantities or commonly known as whales.

This whale activity, which includes the transfer of nearly 26 million XRPs, is in the spotlight of crypto market enthusiasts around the world as it comes along with a price spike recorded by Ripple-backed cryptocurrencies.

According to on-chain data, these coins were transferred to the Luxembourg City-based centralized crypto exchange (CEX). Meanwhile, amid whale transfers followed by price spikes, a well-known crypto market analyst discussed the current market dynamics involving XRP.

According to data revealed by the crypto-owning agency tracking platform, Whale Alert, this significant whale transaction occurred on January 9. In line with the data, the unknown wallet address, R4wf7enWPx...5XgwHh4Rzn, came to the surface by moving that amount.

The unknown wallet address then transferred about 25.8 million XRP to Bitstamp, one of the leading crypto exchanges. In addition, the total value of the coins transferred reached $14.91 million at the time of writing.

Interestingly, as CoinGape Media previously reported, the same wallet address was also seen transferring similar amounts to several CEXs in recent days. This seems to have happened after Ripple Labs made a strategic acquisition at the previously mentioned CEX.