On-chain data shows the XRP whales have been active during the past day. Here are the destinations their moves have been heading to. 
<h2 id="xrp-whales-have-moved-around-big-amounts-in-last-24-hours">XRP Whales Have Moved Around Big Amounts In Last 24 Hours</h2> 
According to data from the cryptocurrency transaction tracker service <a href="https://twitter.com/whale_alert" target="_blank" rel="noopener nofollow">Whale Alert</a>, several large XRP transactions have been witnessed on the blockchain in the past day. 
More specifically, five transfers in total that are of scale often attributed to the <a href="https://www.newsbtc.com/bitcoin-news/bitcoin-whales-buying-hold-25-16-all-supply/" target="_blank" rel="noopener ">whales</a> have occurred on the network inside this window. Since whale transactions involve the transfer of a significant sum of capital, they can sometimes cause fluctuations in the market. 
The implications any whale transfers might have for the market depend on their intent. However, the exact purpose behind any transfer can be hard to ascertain. Nonetheless, the address details of the transaction may provide at least some hints about the context surrounding it. 
First, here are the details regarding the oldest XRP whale transfer from the past day: 
<img loading="lazy" decoding="async" class="alignnone wp-image-605237 size-large aligncenter" src="https://www.newsbtc.com/wp-content/uploads/2024/04/details_d05171.png?w=860&amp;resize=860%2C467" alt="XRP Whale Deposit" width="860" height="467" srcset="https://www.newsbtc.com/wp-content/uploads/2024/04/details_d05171.png?w=1170 1170w, https://www.newsbtc.com/wp-content/uploads/2024/04/details_d05171.png?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/04/details_d05171.png?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/04/details_d05171.png?w=860&amp;resize=860%2C467 860w, https://www.newsbtc.com/wp-content/uploads/2024/04/details_d05171.png?w=750 750w, https://www.newsbtc.com/wp-content/uploads/2024/04/details_d05171.png?w=1140 1140w" sizes="(max-width: 860px) 100vw, 860px" data-recalc-dims="1"> 
As is visible above, this transaction involved the movement of 29.74 million XRP, worth $15.7 million at the time of the transfer. The sender was an unknown wallet, likely a whale’s address. 
On the other hand, the receiver was a wallet attached to a known centralized platform: the cryptocurrency exchange Bitso. Thus, the whale here made a deposit to the exchange from their personal address. 
Investors usually make such transactions whenever they want to use one of the services platforms like these provide, including selling. As such, exchange inflows can prove to be bearish for the price. 
The second-oldest whale transaction from the past 24 hours was also an exchange inflow, this one towards <a href="https://www.newsbtc.com/analysis/xrp/bitstamp-makes-anticipated-xrp-announcement/" target="_blank" rel="noopener ">Bitstamp</a>. Interestingly, the sending address for this one was the same as the Bitso deposit, so the same whale was probably behind both of these moves. 
The large investor shifted 27,430,000 XRP ($14.5 million) to the exchange in this second move. Naturally, if the whale has made these large moves for selling, they could be a bad sign for the asset’s price. 
Though, perhaps fortunately for the XRP investors, two exchange outflows have also occurred recently, which may cancel out these inflows. Below are the details of the two larger withdrawals. 
<img loading="lazy" decoding="async" class="alignnone wp-image-605243 size-large aligncenter" src="https://www.newsbtc.com/wp-content/uploads/2024/04/details_9d9d08.png?w=860&amp;resize=860%2C473" alt="XRP Withdrawal" width="860" height="473" srcset="https://www.newsbtc.com/wp-content/uploads/2024/04/details_9d9d08.png?w=1139 1139w, https://www.newsbtc.com/wp-content/uploads/2024/04/details_9d9d08.png?w=460 460w, https://www.newsbtc.com/wp-content/uploads/2024/04/details_9d9d08.png?w=768 768w, https://www.newsbtc.com/wp-content/uploads/2024/04/details_9d9d08.png?w=860&amp;resize=860%2C473 860w, https://www.newsbtc.com/wp-content/uploads/2024/04/details_9d9d08.png?w=750 750w" sizes="(max-width: 860px) 100vw, 860px" data-recalc-dims="1"> 
In this move, a whale took out around 26.67 million XRP ($14 million) from Binance. Today’s exchange outflow also involved Binance, with another 20.85 million tokens ($10.6 million) leaving the platform. 
The fifth and final transfer was the largest during the past day at a whopping 100 million XRP ($53 million), but this move involved unknown wallets on both sides so it’s impossible to say why the move would have been made. 
The reason could have been anything, from a change of wallets to selling through over-the-counter (OTC) means. 
<h2 id="xrp-price">XRP Price</h2> 
XRP had recovered to $0.57 earlier in the week, but it appears that the coin has lost this progress; it’s back at $0.52 now. 
<img loading="lazy" decoding="async" class="alignnone size-medium aligncenter" src="https://www.tradingview.com/x/VYyhm8Gv/" alt="XRP Price Chart" width="1534" height="854">

XRP Whales Are Active: Here’s Where They Are Sending Coins

Table of Contents

NewsBTC

Other articles published on Apr 26, 2024

Insights from Token2049: How crypto wealth is made

Exploring the Impact of Bitcoin Halving on Market Dynamics

SEI Cryptocurrency Price Sees Rapid Recovery

BlackRock’s Bitcoin ETF sees $217m outflow

Marathon Digital Sets Sights on 50 EH/s Hash Rate Goal for 2024

Potential Bitcoin Market Surge Following $1.4 Trillion US Liquidity Boost – A Forecast

Join our free newsletter for daily crypto updates!