{"id":144671,"date":"2023-09-01T15:42:35","date_gmt":"2023-09-01T10:12:35","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=144671"},"modified":"2023-09-01T15:42:35","modified_gmt":"2023-09-01T10:12:35","slug":"are-whales-making-an-exit-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/are-whales-making-an-exit-crypto-news\/","title":{"rendered":"Are Whales Making An Exit? – Crypto News"},"content":{"rendered":"

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XRP has had its ups and downs in the past few months, ranging from a<\/span> 70% price spike<\/span><\/a> from Ripple\u2019s <\/span>partial victory<\/span><\/a> in court to whales and retail investors <\/span>taking profit<\/span><\/a> after the price pump. Now, on-chain data has shown that XRP big money players have made many interesting transactions this month, with whales transferring over 1.7 billion XRP worth $899,530,325.\u00a0<\/span><\/p>\n

XRP Price Sees Pressure From Whale Movement In August<\/h2>\n

According to on-chain data, a total of 1.7 billion XRP, worth over $899 million, were moved by some of the largest XRP holders in August. Whale movements of this nature tend to generate curiosity among investors. Some see it as a bearish signal for the XRP\u2019s price, as these transactions have the potential to put some downward pressure on XRP due to fears of possible large sell-offs.\u00a0<\/span><\/p>\n

Data from Whale_Alerts have shown various whale movements in August. <\/span>The latest transaction came hours ago<\/span><\/a>, with 424,018,481 XRP worth $225,957,060 transferred between unknown wallets.\u00a0\u00a0\u00a0<\/span><\/p>\n

Bitstamp, in particular, <\/span>received a flurry<\/span><\/a> of XRP from unknown wallets, totaling more than 85,200,000 XRP between August 27 and 29. Bitvavo, another crypto exchange, recorded various XRP whale transactions in the month. In <\/span>one instance on<\/span><\/a> August 27th, 425,118,503 XRP worth $224,906,760 left the exchange to an unknown wallet.\u00a0<\/span><\/p>\n

However, one XRP investor claims to have tracked out the source of the massive transfers on Bitvavo. The investor <\/span>explained that the coins<\/span><\/a> have been moved back and forth the exchange many times since 2020 and the latest transfer was to an address controlled by Bitvavo.<\/span><\/p>\n

\"Ripple<\/p>\n

Token price recovers above $0.52 | Source: XRPUSD on Tradingview.com<\/a><\/pre>\n
Return Of 800 Million XRP to Escrow<\/h2>\n
A high volume of the XRP whale movement came from Ripple itself. On August 1, the blockchain technology company <\/span>returned XRP tokens<\/span><\/a> to its escrow wallet just after carrying out its periodical unlock. Ripple periodically unlocks 1 billion XRP tokens to increase the number of tokens in circulation.\u00a0<\/span><\/p>\n
On-chain data from Whale_Alerts also show that 300 million XRP tokens, with a value of $209 million, were locked in Ripple\u2019s Escrow wallet on August 1. Shortly after, the on-chain tracker revealed that a further 500 million XRP tokens worth $349,458,791 were locked back into escrow.<\/span><\/p>\n
Although XRP is currently up by 2% due to the current buying pressure on Bitcoin, the cryptocurrency is down by 24.61% in the past month. However, XRP trading volume has spiked 115.03% in the past 24 hours.<\/span><\/p>\n
Featured image from Unsplash, chart from Tradingview.com<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
XRP has had its ups and downs in the past few months, ranging from a 70% price spike from Ripple\u2019s partial victory in court to whales and retail investors taking profit after the price pump. Now, on-chain data has shown that XRP big money players have made many interesting transactions this month, with whales transferring […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-144671","post","type-post","status-publish","format-standard","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/144671","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=144671"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/144671\/revisions"}],"predecessor-version":[{"id":145914,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/144671\/revisions\/145914"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=144671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=144671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=144671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}