đ CryptoPotato analysis:
According to Whale Alert, two whales have moved nearly 500 million XRP in the last 24 hours. The first wallet migrated 412,334,412 XRP tokens, worth approximately $213, while the second wallet moved 26,500,000 XRP, or $13 million.
The XRP transfers occurred sequentially, and the second one of 26 million XRP was reportedly made by Ripple Labs and sent to the cryptocurrency exchange Bitstamp. This is not unusual, as Ripple frequently sends large XRP batches to Bitstamp and Bitso, a Mexican crypto exchange. These transactions usually amount to 20 to 30 million XRP.
Overall, October has been a busy month for crypto whales, as hundreds of millions in cryptocurrencies have been moved to several exchanges and unknown wallets. Approximately $511 million in some of the top cryptocurrencies have been transferred, including cryptocurrencies like BTC, ETH, SHIB, and XRP.
Meanwhile, itâs worth noting that all of this is happening as Bitcoinâs price is rallying to levels not seen since early 2022.
