Over 350 million XRP have been shoveled by whales as XRP price has surged in past week
The crypto tracker Whale Alert recently tweeted that whales had moved 357.2 million XRP the previous day. Whales have been moving XRP around quite a bit this week, and the asset has grown by more than 6% over the week.
Hundreds of Millions of XRP Transferred as XRP Price up 6.53%
Around 24 hours ago, a sizable amount of XRP, consisting of 280,684,171 coins valued at $110,017,409, was transferred between two anonymous wallets. On average, the remaining transfers that Whale Alert observed carried 25,000,000 XRP each. Users of the BitGo, Bittrex, and Bitstamp exchanges moved these payments, totaling a little over $10 million each. Internally, the Bitso platform moved a total of 25,800,000 XRP.
— Whale Alert (@whale_alert) November 29, 2022
The official Twitter account for the Ripple-based Xumm wallet posted that it is ready to accept any XRP users that Coinbase Wallet is set to lose.
Sorry (but not sorry) Coinbase, that’s because everyone is using Xumm 😬 (More secure, no telemetry, better support, ecosystem interaction and feature complete).
XRP holders: we welcome you ❤️ https://t.co/W5lNEoKJTV
— Xumm Wallet (@XummWallet) November 29, 2022
On November 29, Coinbase stated that it would no longer support XRP, XLM, ETC, and BCH users. They cited the wallet’s lack of activity around these coins as the cause. Many members of the XRP army were offended by this since it brought back memories of Coibase closing down XRP trading in early 2021 following the SEC’s announcement that it would sue Ripple Labs, its CEO Garlinghouse, and co-founder Larsen.
Users of XRP were still able to store, deposit, and withdraw their currency via the wallet at that time. But as of January 2023, all of it will be over. Wietse Wind, the wallet’s creator, told users that the Xumm wallet combines all of the benefits of cold and hot wallets.
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