According to Whale Alert, an unusual transaction took place on the altcoin project Ripple Blockchain. Accordingly, an anonymous person transferred a huge amount of coins between exchanges. For details cryptocoin.com keep reading.
A large amount of money has been transferred from this altcoin project between various exchanges.
Accordingly, many wallets from different exchanges participated, including relatively small exchanges such as Gopax and Bitso, and Binance. Transactions were carried out with an interval of approximately one hour. The transaction amount starts at 11 million XRP and the largest transaction amounts to 20 million tokens. The continued use of cryptocurrencies is still unknown.
The altcoin price, on the other hand, has yet to react to the high transaction volume on the Blockchain. For now, Ripple’s native token is still available on smaller exchanges. Except for one transaction worth 20 million XRP, all transactions were made from the exchange to the exchange wallet. Some users claim that multiple transactions are tied to a single whale-level owner trying to redistribute their holdings between different exchanges. Meanwhile, XRP was trading at $1,059 at the time of writing, gaining 3.14% in the last 24 hours, according to data from CoinMarketCap.
Crypto analyst Selena comments on the market performance of Ripple (XRP):
XRP is still moving within the range created on Nov 17. The altcoin was tested multiple times towards the upper end of the range but failed to break through. Currently, XRP is up 3.14% from its value following the overall recovery of the altcoin market.
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