U.Today – Cryptocurrency analyst and trader Ali Martinez took to his account on social media giant X to share with the community that a massive pile of 100 million coins has changed hands in the past two days.
100 million XRP in motion
An analyst shared a chart created by popular on-chain data aggregator Santiment that revealed that cryptocurrency whales have started a massive buying spree in the market. Over the past two days they have amassed a whopping 100,000,000 XRP. They were large wallets, holding between 1,000,000 and 10,000,000 XRP each.
At the current exchange rate, this amount of Ripple-related coins is valued at $327,484,478 as XRP changes hands at $3.27 per coin.
According to the chart, whales have sold a significant amount of XRP over the past two days: “Whales have bought over $100 million of XRP in the last 48 hours.”
These 100 million XRPs were bought as the third largest cryptocurrency by market capitalization fell, losing more than 10% – from roughly $3.27 to $2.92. Today, XRP witnessed a massive increase of more than 14% as it jumped from $2.92 to $3.33. XRP followed the price trajectory as the largest cryptocurrency hit a new all-time high of $109,114. So far, BTC has lost some of today’s gains and is trading at $107,468.
40 million XRP deposits fall on Binance
As previously reported by U.Today, a slightly smaller portion of XRP, containing 40 million XRP coins, was transferred to the largest global crypto exchange Binance from an anonymous cryptocurrency wallet.
While the community took this deposit as a sign of an increase, Bithomp XRP-centric data platform revealed that the transfer was actually made by a wallet linked to Binance. So it was an internal crypto transaction.
