The Whale Alert crypto tracking service has spread the word about massive amounts of XRP coins being traded through big worldwide digital trading platforms and anonymous wallets with Ripple Labs wallet participation.
Five transactions involving 20 million, 50 million, and 80 million XRP have been observed. Meanwhile, the price of the Ripple-affiliated XRP has increased by 20% in the last week.
Major players have shoveled 186.1 million XRP.
The aforementioned crypto tracker has identified five transactions containing significant amounts of XRP apiece. The largest ones transferred 80 million and 50 million between digital wallets, respectively.
The remaining transfers averaged 20 million XRP each. Ripple’s RL18-VN wallet took part as well, delivering XRP to Ripple’s ODL corridor in the Philippines—Coins.ph.
Bitso, Bithumb, and Bittrex are the exchanges that have participated in these XRP transfers.
Ripple withdraws 1 billion XRP and re-locks the majority of it.
On March 1, the Ripple fintech giant released a staggering billion XRP from escrow. This has been done on a monthly basis since 2017, with the intention of releasing 55 billion XRP, with a portion of it flowing into circulation and the remainder being frozen by financial institutions (Ripple clients) on their custodial wallets.
Later, the business re-entered 800 million XRP into escrow.