A large amount of XRP transactions took place before the recovery in the crypto market. The value of the transferred funds was approximately $76 million.
While the value of XRP was traded at $ 0.80, 80 million XRP transfers were made in three different transactions.
The first transaction of 40 million XRP was made from Ripple’s official account to an anonymous wallet that currently holds 30 million tokens. The 40 million XRP transferred was here for a short time and transferred to another anonymous wallet in almost instantaneous time. These funds were then sent to a centralized exchange.
The crypto community has stated that Ripple may have used two anonymous wallets to sell its assets on the exchange without transacting directly to the exchange address.
A Direct Transaction
After the transfer of the official account using two anonymous wallets, a more direct transaction took place. An anonymous crypto whale transferred 20 million tokens to the Bitso exchange and transferred the same amount back an hour later.
Whatever the reason, the crypto whale transferred 20 million tokens to a centralized exchange, left 1.8 million tokens in the exchange’s hot wallet, and 18.2 million tokens were transferred back to its own wallet. The reason for this unusual move remains unclear.
At the time of writing, XRP is trading at $ 0.8384 according to CoinMarketCap data.