{"id":549849,"date":"2023-09-02T15:30:50","date_gmt":"2023-09-02T15:30:50","guid":{"rendered":"https:\/\/wncen.com\/?p=549849"},"modified":"2024-06-11T08:03:05","modified_gmt":"2024-06-11T08:03:05","slug":"xrp-whales-on-the-move-again-as-altcoin-records-significant-utility-spikes","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ripple\/xrp-whales-on-the-move-again-as-altcoin-records-significant-utility-spikes\/","title":{"rendered":"XRP Whales On The Move Again, As Altcoin Records Significant Utility Spikes"},"content":{"rendered":"<p><span style=\"font-weight: 400\">In the last 48 hours, the XRP market has witnessed a significant amount of large-scale transactions, drawing much attention from the general crypto space. According to data from<a href=\"https:\/\/twitter.com\/whale_alert?s=20\" target=\"_blank\" rel=\"noopener nofollow\"> blockchain tracker Whale Alert<\/a>, <a href=\"https:\/\/wncen.com\/altcoin\/xrp-whales-accumulate-can-price-recover-now\/\" target=\"_blank\" rel=\"noopener \">XRP whales<\/a> conducted transactions involving over a billion XRP on Friday, September 1.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/xrp\/xrp-price-prediction-0-55\/\" target=\"_blank\" rel=\"noopener \">XRP Price Prediction \u2013 Topside Bias Vulnerable Unless Bulls Clear This Hurdle<\/a><\/div>\n<h2><strong>Ripple Transfers 75 Million XRP To Unknown Wallet In Whale Buying Spree<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Through a series of posts by Whale Alert on social media platform X (formerly Twitter), it can be inferred that the XRP market witnessed four major whale transactions.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The biggest of these transactions was the transfer of 424,354,912 XRP &#8211; valued at $214,293,666 &#8211; from one unknown wallet to the other. In this context, unknown wallets refer to addresses with no affiliation to a crypto exchange.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Furthermore, there was the move of XRP, 19,920,318 XRP worth $10,167,904, from another unknown wallet to the Binance exchange. It was also noted that a whale transferred 66,666,659 XRP, worth $33,065, 809 from an unknown wallet to the Binance exchange.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, the most notable transaction that caught most traders&#8217; eye came from <a href=\"https:\/\/wncen.com\/ripple-2\/ripple-party-sec\/\" target=\"_blank\" rel=\"noopener \">Ripple,<\/a> the company behind the XRP cryptocurrency.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">\ud83d\udea8 \ud83d\udea8  75,000,000 <a href=\"https:\/\/twitter.com\/hashtag\/XRP?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#XRP<\/a> (37,058,145 USD) transferred from <a href=\"https:\/\/twitter.com\/hashtag\/Ripple?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#Ripple<\/a> to unknown wallet<a href=\"https:\/\/t.co\/MIAbaaLoOS\" rel=\"nofollow\">https:\/\/t.co\/MIAbaaLoOS<\/a><\/p>\n<p>&mdash; Whale Alert (@whale_alert) <a href=\"https:\/\/twitter.com\/whale_alert\/status\/45988159?ref_src=twsrc%5Etfw\" rel=\"nofollow\">September 1, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span style=\"font-weight: 400\">Whale Alert<a href=\"https:\/\/twitter.com\/whale_alert\/status\/45988159?s=20\" target=\"_blank\" rel=\"noopener nofollow\"> reported<\/a> that Ripple transferred 75,000,000 XRP, worth $37,058,145, from its Binance wallet to an unknown wallet.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Following this move, some crypto enthusiasts believe that this particular unknown wallet also belongs to Ripple, as the company could be intending to soon offload those tokens on an exchange. This speculation has led to most investors predicting an incoming market dump.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">Ripple also conducted other transactions on September 1, locking about 800,000,000 XRP in escrow.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, this does not raise any concern as the crypto payment firm is<a href=\"https:\/\/wncen.com\/news\/ripple\/massive-token-unlock-ripple-releases-one-billion-xrp-from-escrow\/\" target=\"_blank\" rel=\"noopener \"> known to release 1,000,000,000 XRP<\/a> at the start of every month before proceeding to lock up about 80% of the new tokens a few hours later.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/xrp\/xrp-price-prediction-for-2023-2024-2025-2030\/\" target=\"_blank\" rel=\"noopener \">XRP Price Prediction for 2023, 2024, 2025, 2030 and Beyond<\/a><\/div>\n<h2><strong>XRP Records 7-Month Highest Transaction Volume Among Other Positives<\/strong><\/h2>\n<p><span style=\"font-weight: 400\">Following the massive transactions in the XRP market, on-chain analytics firm Santiment has provided a report highlighting some of the effects of these whale movements.<\/span><\/p>\n<p><span style=\"font-weight: 400\">According to<a href=\"https:\/\/twitter.com\/santimentfeed\/status\/65279975?s=20\" target=\"_blank\" rel=\"noopener nofollow\"> an X post on September 1,<\/a> Santiment reports an on-chain transaction volume of 4.8 billion XRP, marking the seven highest value of this metric in the XRP market over the last seven months.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The analytics firm also noted that there are currently about 2.03 billion XRP in circulation, representing the token\u2019s highest-circulating supply since May 31. In addition, XRP development activity was also reported to be on the high side.<\/span><\/p>\n<p><span style=\"font-weight: 400\">At the time of writing, XRP still finds itself struggling amid a general market downturn. The fifth-largest cryptocurrency trades at $0.4983 with a 1.88% loss in the last day, according to <a href=\"https:\/\/coinmarketcap.com\/currencies\/xrp\/\" target=\"_blank\" rel=\"noopener nofollow\">data from CoinMarketCap.<\/a><\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/www.tradingview.com\/x\/jCG0tOh5\/\" alt=\"XRP whale\" width=\"1480\" height=\"906\"><\/p>\n<pre style=\"text-align: center\">XRP trading at XRPUSD on the daily chart | Source: <a href=\"https:\/\/www.tradingview.com\/chart\/xg17RJqK\/\" target=\"_blank\" rel=\"noopener nofollow\">XRPUSD chart on Tradingview.com<\/a><\/pre>\n<div class=\"disclaimer-shortcode\"><em>Featured image from Unsplash, chart from Tradingview.<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"<p>In the last 48 hours, the XRP market has witnessed a significant amount of large-scale transactions, drawing much attention from the general crypto space. According to data from blockchain tracker Whale Alert, XRP whales conducted transactions involving over a billion XRP on Friday, September 1.\u00a0 Related Reading: XRP Price Prediction \u2013 Topside Bias Vulnerable Unless Bulls Clear This Hurdle Ripple Transfers 75 Million XRP To Unknown Wallet In Whale Buying Spree Through a series of posts by Whale Alert on social media platform X (formerly Twitter), it can be inferred that the XRP market witnessed four major whale transactions.\u00a0 The biggest of these transactions was the transfer of 424,354,912 XRP &#8211; valued at $214,293,666 &#8211; from one unknown wallet to the other. In this context, unknown wallets refer to addresses with no affiliation to a crypto exchange.\u00a0 Furthermore, there was the move of XRP, 19,920,318 XRP worth $10,167,904, from another unknown wallet to the Binance exchange. It was also noted that a whale transferred 66,666,659 XRP, worth $33,065, 809 from an unknown wallet to the Binance exchange.\u00a0 However, the most notable transaction that caught most traders&#8217; eye came from Ripple, the company behind the XRP cryptocurrency.\u00a0 Whale Alert reported that Ripple transferred 75,000,000 XRP, worth $37,058,145, from its Binance wallet to an unknown wallet.\u00a0 Following this move, some crypto enthusiasts believe that this particular unknown wallet also belongs to Ripple, as the company could be intending to soon offload those tokens on an exchange. This speculation has led to most investors predicting an incoming market dump.\u00a0 Ripple also conducted other transactions on September 1, locking about 800,000,000 XRP in escrow.\u00a0 However, this does not raise any concern as the crypto payment firm is known to release 1,000,000,000 XRP at the start of every month before proceeding to lock up about 80% of the new tokens a few hours later.\u00a0 Related Reading: XRP Price Prediction for 2023, 2024, 2025, 2030 and Beyond XRP Records 7-Month Highest Transaction Volume Among Other Positives Following the massive transactions in the XRP market, on-chain analytics firm Santiment has provided a report highlighting some of the effects of these whale movements. According to an X post on September 1, Santiment reports an on-chain transaction volume of 4.8 billion XRP, marking the seven highest value of this metric in the XRP market over the last seven months.\u00a0 The analytics firm also noted that there are currently about 2.03 billion XRP in circulation, representing the token\u2019s highest-circulating supply since May 31. In addition, XRP development activity was also reported to be on the high side. At the time of writing, XRP still finds itself struggling amid a general market downturn. The fifth-largest cryptocurrency trades at $0.4983 with a 1.88% loss in the last day, according to data from CoinMarketCap. XRP trading at XRPUSD on the daily chart | Source: XRPUSD chart on Tradingview.com Featured image from Unsplash, chart from Tradingview.<\/p>\n","protected":false},"author":581,"featured_media":549854,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[16894],"tags":[3680,57231,32968,4531,86043],"class_list":["post-549849","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ripple","tag-ripple","tag-santiment","tag-whale-alert","tag-xrp","tag-xrp-whales"],"acf":[],"yoast_head":"\n<title>XRP Whales On The Move Again, As The Altcoin Records Significant Utility Spikes<\/title>\n<meta name=\"description\" content=\"According to data from blockchain tracker Whale Alert, XRP whales conducted transactions involving over a billion XRP on Friday, September 1.\u00a0\" \/>\n<meta name=\"robots\" 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Semilore also curated pieces for veteran crypto users ensuring they were up to date with the latest blockchains, decentralized applications and network updates. This foundation in educational writing has continued to inform his work, ensuring that his current work remains accessible, accurate and informative. Currently at NewsBTC, Semilore is dedicated to reporting the latest news on cryptocurrency price action, on-chain developments and whale activity. He also covers the latest token analysis and price predictions by top market experts thus providing readers with potentially insightful and actionable information. Through his meticulous research and engaging writing style, Semilore strives to establish himself as a trusted source in the crypto journalism field to inform and educate his audience on the latest trends and developments in the rapidly evolving world of digital assets. Outside his work, Semilore possesses other passions like all individuals. 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His dedication to demystifying digital assets and advocating for their adoption, combined with his commitment to social justice and political engagement, positions him as a dynamic and influential voice in the industry. 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