63 Million XRP Moved Again, Whales Start Accumulating

Whale Alert identified a transfer of huge proportions of the third biggest cryptocurrency as there are some that believe this is a consequence from the institutional investors that just started to accumulate XRP as 63 million XRP has moved again as we are reading more in the ripple price news.

Investors in cryptocurrency that are holding whale-sized amounts of cryptocurrency are known by the term crypto whales, and it is believed that they have the influence to impact prices on the cryptocurrency market by moving them up or down. Info provided by ‘ledger.exposed’ says that the 0.01 percent of accounts that hold 20.1 million XRP has been gathering more and more of this cryptocurrency as per the xrp price news.

In the meantime, Whale Alert detected huge proportions of XRP (approximately 63 million XRP) sent to the former CTO of Ripple, Jed McCaleb. The well-known Twitter bot Whale Alert has noticed two massive XRP transactions conducted in the past few hours.22,000,000 XRP was transferred between the wallets of the Bithumb cryptocurrency exchange firm having the worth of $5,318,957.

The second transfer was made to the wallet of Jed McCaleb. McCaleb is a co-founder of Stellar Lumens and a former CTO of Ripple. The sum sent to his wallet was 41,242,351 XRP that has the worth of $9,940,773. When huge amounts of these proportions from the third-largest cryptocurrency are sent to the pocket of McCaleb, the cryptocurrency community expects the price to dump shortly after according to the xrp price news.

On a previous occasion, DC Forecasts reported that a huge amount of 200 million XRP was sent between the accounts of the largest over-the-counter cryptocurrency exchange in Asia, OTCBTC. Mark Phillips, the host of the well-known BetterPRNow podcast, had shared data from the XRP transfers tracking website ‘leder exposed’. According to the data, the 0.01 percent of XRP accounts, those that are the richest i.e. those who hold over 20 million XRP coins, started accumulating more of this cryptocurrency.

Mark Philips is of the opinion that these are institutional investors that purchase huge amounts of XRP. A developer @WietseWind, of XRP ledger, has assumed that this could be true as per the comments that we have in our ripple price news:

“People moving their XRP from their own smaller accounts to the big Exchange accounts.”