Curiosity gripped the XRP community as whales moved over 1.6 billion XRP across two major exchanges, Bithumb and Bybit, in a matter of hours.
Whale alert reported that whales moved $814 million worth of XRP in a matter of hours, sparking market curiosity. Tuesday’s transactions involved five separate transfers, where whales deposited and withdrew large sums of XRP from exchanges.
Transaction details
On-chain data from XRPL explorer Bithomp shows that the first transaction took place at 1:53 p.m. (UTC) between South Korean crypto exchange Bithumb and an unknown wallet. The exchange transferred 580,092,812 XRP ($297 million) to the receiving address “rPyCQm.”
As questions about the origin of the transaction prevailed, another massive withdrawal took place. Notably, in this transfer, a second wallet linked to Bithumb, “mArodsZ”, moved 199,999,993 XRP to the same receiving address as the previous transaction.
Notably, the second withdrawal took place at 2:00 p.m. (UTC), seven minutes after the first transaction. Additionally, the transfer was worth $101 million at the time, at an average price of $0.506 per XRP.
Two minutes later, the same address received 200,000,043 XRP from another wallet affiliated with Bithumb. The address “rJyEK6” sent $101.3 million worth of XRP to the receiving wallet “rPyCQm,” marking the third withdrawal to the address.
Meanwhile, the newly created wallet has not stopped its withdrawal, as Whale Alert shows that it received its largest XRP of the day at 2:06 p.m. (UTC). Another Bithumb-linked address, “rZcBQa,” sent a staggering 600,000,096 XRP ($304 million) to the wallet address.
At the time of writing, the “rPyCQm” address still contains everything it received from Bithumb. The wallet currently owns 1.586 billion XRP worth $859 million.
Another whale moves 20 million XRP to Bybit
Whale Alert also shows that another whale moved 20,000,000 XRP to Bybit an hour later. The data shows that the sending address “raQxZL“moved $10.2 million worth of XRP to an address labeled Bybit”rMvCase» at 3:06 p.m. (UTC).
Notably, the sending address has been continuously moving XRP to Bybit recently. Data from Bithomp shows that the address transferred 10 million XRP to the exchange on November 4 and 10 million XRP on November 1.
At the time of writing, the sending address still contains 386 million XRP, valued at $200 million. At the time of writing, XRP is trading at $0.5374, up 5.44% in the last 24 hours.
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