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Crypto Whales Move Nearly $1 Billion in XRP – The Ripple Effect

November 29, 2018

Crypto whales are moving incredible amounts of XRP.

Whale Alert on Twitter tracked $989,999,892 worth of XRP – all transferred within a four hour span.  

The entire amount was split between five transactions. The largest transaction was 999,999,959 XRP, worth $348,507,596. The top three transactions all went to the same address, which now holds 2.6 billion XRP.

? ? ? ? ? ? ? ? ? ? 999,999,959 #XRP (348,507,596 USD) transferred from Unknown wallet to Unknown wallet

Tx: https://t.co/Ev8EewPGcu

— Whale Alert (@whale_alert) November 27, 2018

? ? ? ? ? ? ? ? ? ? 749,999,979 #XRP (261,380,701 USD) transferred from Ripple OTC Distribution wallet to Unknown wallet

Tx: https://t.co/iwtpyoQsxv

— Whale Alert (@whale_alert) November 27, 2018

? ? ? ? ? ? ? ? ? ? 850,335,027 #XRP (296,321,202 USD) transferred from Ripple OTC Distribution wallet to Unknown wallet

Tx: https://t.co/DRGaLQfWrl

— Whale Alert (@whale_alert) November 27, 2018

? 40,000,000 #XRP (13,951,639 USD) transferred from Ripple OTC Distribution wallet to Unknown wallet

Tx: https://t.co/ujebBfIYeE

— Whale Alert (@whale_alert) November 27, 2018

? ? ? ? ? ? 200,000,000 #XRP (69,838,754 USD) transferred from Ripple Escrow wallet to Ripple OTC Distribution wallet

Tx: https://t.co/DjgvGOdWjj

— Whale Alert (@whale_alert) November 27, 2018

A number of the transactions appear to be Ripple moving some of its huge holdings of XRP. Ripple owns 60% of the total supply, with the vast majority of that amount locked in escrow.

Ripple regularly sells its XRP over-the-counter (OTC). The company recently revealed it doubled its sales of XRP in Q3 of this year, selling a total of $163.33 million worth of the digital asset, compared to $73.53 million in the previous quarter.

Much of the increase is attributed to sales made directly to institutions. Ripple sold $98.06 million to institutions, compared to just $16.87 million in the second quarter.

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