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Ripple Moves 83,000,000 XRP As Large Bitcoin and Ethereum Investors Transfer Millions in Crypto

July 29, 2020

Crypto insiders are tracking a rise in activity from XRP, Bitcoin (BTC), and Ethereum (ETH) whales as the market’s momentum shifts to large-cap cryptocurrencies.

In the last 24 hours, the San Francisco payments startup Ripple moved over 83 million XRP worth $19.18 million, according to XRP-watching bot XRPL Monitor.

In one transaction, the Ripple appears to have sent 33 million XRP worth $7.45 million to its distribution wallet, which is used to transfer funds that are sold to third parties.

33,129,911 #XRP (7,452,308 USD) transferred from Ripple to Ripple OTC Distribution wallet

Tx: https://t.co/fR4HUVyqTf

— Whale Alert (@whale_alert) July 28, 2020

The other two transactions witnessed Ripple send 50 million XRP worth $11.5 million to wallets of unknown origin.

Meanwhile, Bitcoin whales are also on the move as the crypto king continues to stay above psychological resistance of $10,000 en route to a 2020 high of $11,298, according to CoinMarketCap.

High-rolling Bitcoin holders moved 27,280 BTC worth more than $299 million in 13 separate transactions in the last 24 hours. Most of the transfers moved BTC from exchanges to wallets of unknown origin. Two of the transfers involved crypto criminals who sent BTC stolen from Bitfinex back in 2016 to unknown wallets.

Ethereum whales are also waking up from slumber after the second-largest cryptocurrency printed a 52-week high of $330, according to CoinMarketCap. The whale-watching bot Whale Alert tracked Ethereum holders moving a total of 145,990 ETH worth over $46 million in two separate transactions in the last 24 hours. One of the transfers moved ETH between two unknown wallets, and the other sent ETH from an unknown wallet to Binance.

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.

Featured Image: Shutterstock/Tithi Luadthong