Ripple whale moves coins to and from various exchanges, but the price is not reacting

According to Whale Alert, there has been an unusual transaction on the Ripple blockchain. Accordingly, an anonymous person was transferred a large number of different coins between the exchange.

Someone transferred 60 million Ripple coins between various exchanges

Accordingly, many wallets from different exchanges have joined, including relatively small exchanges like Gopax and Bitso and the exchange Binance.

Trades are made with an interval of about one hour. The transaction amount starts from 11 million XRP, and the largest transaction is 20 million tokens. The continued use of the coins is still unknown.

ripple-whale-moves-coins-to-and-from-various-exchanges-but-the-price-is-not-reacting

Source: Whale Alert

XRP price has yet to react to the high volume of transactions on the blockchain. For now, Ripple’s native token is still available on smaller exchanges. All transactions were made from the exchange to the exchange wallet, except one worth 20 million XRP.

Some users claim that multiple transactions are tied to a single whale-level holder trying to redistribute his assets between different exchanges.

At the time of writing, XRP is changing hands at $1.0559.

ripple-whale-moves-coins-to-and-from-various-exchanges-but-the-price-is-not-reacting

XRP/USD 4-hour chart | Source: TradingView

As for the asset’s market performance: XRP is still moving within the range formed on November 17. The coin has tested many times towards the upper border of the range but failed to break out. Currently, XRP is up 1.8% from its value following the overall recovery of the altcoin market.

Sign up for a Binance account here (Discount 10% trading fees): https://accounts.binance.com/en/register?ref=29171587

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