- Whale Alert reported that more than 1 billion XRP has been transferred over the last week.
- Reportedly, Binance and Coinbase have been included in the transactions.
- The continuous transactions of XRP resulted in a significant fall in its price by 15%.
According to the reports by Whale Alert, the crypto tracking platform, crypto whales have transferred more than 1 billion XRP, the native token of the cryptocurrency exchange Ripple, over the last week. This huge transferred amount resulted in a significant fall in XRP’s price by 15%.
In the chart above, it is evident that the XRP price had a negative inclination. On December 14, FTX was trading with the value of $0.3812, while the current price is $0.3437.
Previously, on December 13, Whale Alert tweeted about the transfer of 30,000,000 XRP to unknown wallets. Whale Alert has been updating the substantial transfers that took over the previous week. It is worth noting that a major share of the transfer has taken place in the last two weeks, as per the report.
Notably, leading crypto exchanges like Coinbase and Binance were included in most of these transactions. Out of the total transactions, a notable transaction that moved more than 325 million units of the currency was performed by Binance, according to the tweet posted by Whale Alert on December 19.
Another significant transfer that took place over the previous week is the one that transferred around 180 million XRP. Prior to this transfer, there had been two other major transactions of almost 262 million XRP and 267 million XRP.
During the second week of December, Whale Alert reported that around 40,000,000 XRP, worth $15,379,362 had been transferred to an unknown wallet. The data shows that over the past two weeks, there had been a significant amount of transfers taking place within the crypto exchange.