It’s not uncommon for huge amounts of XRP to get moved about, especially as major banks and institutions are slowly adopting Ripple’s xRapid platform to power their cross-border transfers. However, spread out over two transactions, a little over $250 million worth of XRP was recently moved. A little more than $136 million was moved from a well-known XRP OTC wallet to Bitstamp, while a further $114 million was moved from another well-known XRP wallet to a mystery wallet. The second transaction has raised some eyebrows as no major banks have spoken about a partnership, could this be a huge XRP whale lurking in the darkness waiting to manipulate the crypto market?
Everyone’s Favorite Twitter Account Saves the Day
If you love to keep an eye on what the whales are up to, then you need to be following @whale_alert on Twitter. It posts a Tweet highlighting the key bits of information any time a huge transaction is made, making sure you don’t miss out on a single second of the action. All of the accounts Tweets are done in real time, so you don’t have to worry about old transactions getting in the way of your whale spotting.
? ? ? ? ? ? ? ? ? ? 463,420,929 #XRP (136,324,998 USD) transferred from Ripple to Bitstamp
Tx: https://t.co/kuO9egPDtt
— Whale Alert (@whale_alert) January 28, 2019
$1 Billion in XRP Moved Not Long Ago
Towards the end of 2018, another huge whale moved just shy of $1 billion in XRP from an unknown wallet to another unknown wallet. It’s still unclear as to whether this was just Ripple moving its XRP around for security purposes or a holder flexing his or her financial muscle. Either way, this massive transaction cost a mere 0.000012 XRP – something Brad Garlinghouse will be very happy about.
Don’t Worry, It’s Not Valor’s Not So Secret Attack
For those of you fearing the worst – no, Valor hasn’t attacked Ripple and given away all of its XRP. There were rumors that Valor was planning a $14 million hostile takeover of the XRP network, but we can safely say that these rumors will never be anything but rumors. It would be physically impossible for Valor – or anyone for that matter – to pull off such a feat, especially given the fact that most XRP is held by Ripple.
These two transactions summing a whopping quarter of a billion dollars cost less than 1 penny to send, a true testament to the power of the XRP network. Ripple and XRP have a lot of haters, but you can’t deny its speed and low cost as one of the best networks around for payments.
