According to the Whale Alert tracking service, anonymous wallets are transferring large amounts of money amongst themselves, in addition to the significant XRP buying activity on the Binance cryptocurrency exchange.
Transactions involving a large amount of money between two wallets
Two anonymous wallets transferred more than $70 million in XRP to each other two hours ago. Another transaction occurred on the XRP blockchain one minute later. The wallet ending in “KsTqv” transferred a little more than $70 million in XRP once more.
The total amount of XRP transferred from the “KsTqv” wallet to the “ijEGb” wallet was $147.7 million in USD.
According to the largest exchange wallets, no transfers worth $140 million or $70 million were recently made, implying that the person making large transactions had no intention of selling them unless it was an OTC trade.
OTC trades are typically executed with the assistance of a third party who monitors the process to ensure the safety of both parties and the proper transfer of funds. In this case, however, the transfer was made directly from one wallet to another.
Significant purchasing volume
While some undisclosed wallets transfer large sums of money between themselves, some investors buy XRP from cryptocurrency exchanges that are open to the public.
According to Whale Alert, this wallet purchased $15.7 million in XRP from the Binance exchange and transferred funds to the private wallet address almost immediately.
Following yesterday’s 11.6 percent retracement from the local high, the price of XRP has increased by 3.5 percent.