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Crypto Trader Moves Nearly 100 Million XRP, Triggers ‘Market Maker’ Rumors

November 14, 2019

Crypto traders are tracking a recent transfer of 99,999,900 XRP worth about $27.4 million.

According to Whale Alert, the transaction happened between two wallets of unknown origin. The XRP explorer Bithomp says the transfer cost less than a penny.

? ? 99,999,900 #XRP (27,445,997 USD) transferred from unknown wallet to unknown wallet

Tx: https://t.co/e472iPjJbV

— Whale Alert (@whale_alert) November 13, 2019

Although the receiving address was not identified by Whale Alert, a crypto analyst known as Light Crypto tells his 19,000 followers the XRP in question may have been transferred to a known market maker.

That’s because the wallet that received the XRP has sent dozens of transactions to an address created and owned by a Singapore-based crypto trading platform called Triple Dice Exchange, according to Bithomp.

$27.5M in Ripple $XRP just sent to market-making firm addresses: https://t.co/Byg6YVOoTE

— light (@lightcrypto) November 13, 2019

Although a number of giant Bitcoin whales surfaced on Wednesday, large holders of XRP have been relatively quiet.

A recent analysis of crypto sentiment from DailyFX IG found more than 96% of XRP traders are long – a higher number than Bitcoin, Ethereum and Litecoin.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.