Over 80 Million XRP Tokens Moved; Major Transfers To Bitstamp, Unknown Wallets

In the past 24 hours, more than 80 million XRP tokens were reshuffled. Some were sent to centralized exchanges while some were sent to unknown wallets, according to data from Whale Alert.

What Happened: The data indicated that around 20.7 million XRP tokens (worth $14.93 million) were transferred to the European cryptocurrency exchange Bitstamp from an unknown wallet, CoinGape reports. To date, the same wallet address has transferred more than 100 million XRP tokens to centralized exchanges.

The remaining 60 million XRP tokens, valued at around $42.83 million, were transferred from Ripple to another unknown wallet.

Separately, Whale Alert data last week indicated that this wallet recently transferred over 28 million XRP tokens to Bitstamp.

Industry titans BlackRock, DTCC, OCC, State Street, Société Générale, Hedera, Citi, BMO, Northern Trust, Citibank, Amazon, S&P Global, Google, Invesco, and Moody’s will join our November 13 Fintech Deal Day and November 14 Future of Digital Assets. Secure a spot here to join them.

Also Read: 10% Weekly XRP Price Gain Inspires Significant Whale Transfers To Centralized Exchanges

XRP ranks among the top five cryptocurrencies by market cap. Post Ripple’s advancements in the U.S. SEC against Ripple Labs After the SEC asked a judge to dismiss its lawsuit against Ripple in October, the token saw a significant price and trading volume surge.

Meanwhile, Ripple is collaborating with the National Bank of Georgia for potential use cases of a central bank digital currency (CBDC) within the country.

A CoinGape technical analysis report indicates that the XRP price chart reflects a bullish pattern, known as a rounding bottom pattern, which usually marks the bottom before initiating a new recovery.

Price Action: XRP token price in the past week has gained around 15% while the past two weeks saw a 22% surge.

Find out what is next for Ripple's XRP at Benzinga’s Future Of Digital Assets Event in New York scheduled on Nov.14. Attend and learn more data about Ripple and rising whale movements in the token. The gathering is seen as pivotal for the digital assets community. The event will spotlight the latest trends, innovations, and challenges in the digital asset realm.

Read Next: Why Is XRP Rallying 8% Today?

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