A whopping amount of 975.1 million XRP was moved by Ripple whales in less than two hours, according to the blockchain tracking platform Whale Alert. The largest transaction ever was the transfer of 500 million XRP, or $230.36 million, from an unidentified wallet to a Ripple Escrow wallet.
A transfer of 300 million Ripple, or $138.56 million, from an anonymous wallet to Ripple was the second-largest transaction that was observed. 5
500 million tokens were reportedly immediately locked in “escrow” at the Ripple Escrow wallet, a feature that enables users to set conditional cryptocurrency payments. Additionally, 200 million Ripple tokens were put in escrow at a mystery wallet.
According to data, a whale transferred 60 million tokens, or about $28 million, from an anonymous wallet to the Bitstamp cryptocurrency exchange in Luxembourg. Just 21 seconds after receiving the assets, the same Bitstamp address sent 60.9 million tokens, worth $28.4 million, to an unidentified wallet.
XRP large wallets hit an all-time high
The number of massive wallets with more than 1 million Ripple token holdings has reportedly reached an all-time high, according to cryptocurrency analytics portal Coin Metrics. There are now 1,894 such addresses in existence.
Looking at the graph, it is clear that since the announcement of the SEC’s investigation into Ripple, the number of Ripple whales has been steadily increasing. The number of XRP millionaires reached pre-trial levels as early as November 2021, and then that record was broken almost a year later.
It’s interesting to note that in its analysis, CoinMetrics contrasts the number of large XRP wallets with the Coinbase trading volume chart. XRP and the exchange have a lengthy history together. When the SEC demanded that the token be taken off the market, Coinbase was one of the biggest suppliers of XRP liquidity.
The chart above shows this in part. When it was finally exposed today that Coinbase has asked to participate in the litigation on Ripple’s side, there were a number of negative emotions on both sides. XRP is likely to take off once the Ripple vs. SEC comes to a conclusion in favor of Ripple.