Whale Watch: Over 9000 BTC moved, Ripple transfers XRP worth $24 million

21 Feb, 2019
by David Robb
Analysis
Whale Watch: Over 9000 BTC moved, Ripple transfers XRP worth $24 million

Ripple recently moved a significant amount of its native token XRP, totalling around $24 million in a 24h period. A large Bitcoin (BTC) sum has also been transferred between whale wallets recently.

Although far from one of the largest whale movements we've seen, this much XRP being transferred was a significant event. Of the 73.2 million XRP ($24 million) moved by Ripple, $15 million was in a single transaction. As reported by TheDailyHodl, this went from a known Ripple OTC distribution wallet to an unknown wallet. It could be that the company has sold part of its own reserves in order to pay its bills, as well as expanding the XRP eco-system.

Read more: Whale Watching: The Ripple show as XRP whale moves 1 billion tokens ($302m); XRP for the banks: will the large ones ever use the Ripple token?

The Whale Alert Twitter account also reports a number of major Bitcoin (BTC) transfers in the last few days. February 19, the same day as the XRP transfer, saw $45 million worth of Bitcoin being transferred in 4 transactions.

The last 24 hours has seen two more significant BTC transactions: 4000 BTC (worth around $16 million) from Bitfinex to an unknown wallet, and 5000 BTC (worth almost $20 million) being transferred on to Bitfinex from an unknown wallet.

Read more: If I'm not a Bitcoin whale, then what am I?

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