Record 512 Million XRP Shifted by Ripple and Unknown Wallets

[Teletalk.org]

Whale Alert crypto tracking bot has detected three XRP transactions, carrying a total of 512.1 million XRP. They were conducted by Ripple fintech behemoth and wallets which Whale Alert tagged as “unknown”.

To my knowledge, Whale Alert crypto tracking is very good and it reveals which token or coin has the most transactions. So we can learn about different coins and how many transactions they have. Ripple is a very good coin for those who are trying to understand this crypto tracking effortlessly.

The other two chunks of Ripple-affiliated tokens contained 226,439,980 and 235,725,280 XRP worth $163,244,540 and $170,121,600. The total equivalent of the shifted XRP amount comprises roughly $370 million.

Whale Alert has tagged the senders and receivers of these two XRP amounts as “unknown” addresses but XRP-focused data platform Bithomp shows that in both cases the sender and the receiver was the Uphold crypto exchange that moved the funds internally.

The other two chunks of Ripple-affiliated tokens contained 226,439,980 and 235,725,280 XRP worth $163,244,540 and $170,121,600. The total equivalent of the shifted XRP amount comprises roughly $370 million.

Which I got to see through a tweet.
Tweets link:
1. https://twitter.com/whale_alert/status/1517505698942312448
2. https://twitter.com/whale_alert/status/1517505511872249857

[TimeTeller]

So what't the point of this post? It was already mentioned that it was internal movement in Uphold.
We can see this huge transfers usually within the exchange itself.
This movement doesn't say anything about the future of XRP.
This is why I don't see any significant reason why we need to dwell on this?

[adaseb]

I rarely take any trades based on any large wallet movements. Most of the time it’s exchanges sending coins back and forth. The only time I can think when it was profitable to follow wallet movements was when that Shiba Inu whale who owned like $1B worth of Shiba decided to send his funds to an exchange.

If you noticed that you could of shorted at the exact moment and made great profit and it would of never went against you.

Sometimes following certain wallets doesn’t help. Remember when Luna was sending Tether to Binance to buy Bitcoin. Well the last few transactions ended up being bull traps.

[bittraffic]

I rarely take any trades based on any large wallet movements. Most of the time it’s exchanges sending coins back and forth. The only time I can think when it was profitable to follow wallet movements was when that Shiba Inu whale who owned like $1B worth of Shiba decided to send his funds to an exchange.

If you noticed that you could of shorted at the exact moment and made great profit and it would of never went against you.

Sometimes following certain wallets doesn’t help. Remember when Luna was sending Tether to Binance to buy Bitcoin. Well the last few transactions ended up being bull traps.

$370M is something worth tracking.

When its sent into an exchange wallet, rest assured its about to be dumped. But its got to be different when Shib is sent out from the exchange going to a personal wallet. Same when a large chunk of XRP is sent out to an unknown wallet. Is the owner going to keep it for holding? I find it very unusual for someone to hold XRP, but it must be for payment. It is said that XRP is meant as alternative for SWIFT.

[Tytanowy Janusz]

To my knowledge, Whale Alert crypto tracking is very good and it reveals which token or coin has the most transactions. So we can learn about different coins and how many transactions they have. Ripple is a very good coin for those who are trying to understand this crypto tracking effortlessly.

In most cases its only a FUD tool. This big transfer means nothing especially $170 million where XRP marketcap is equal $34B so we are talking about a 0.5% of supply. I know it looks much but its not.

$370M is something worth tracking.

This could be $170M going back and forth to create a FUD.

[goaldigger]

Doesn't tell any signal though and can mean a lot, this could also an exchange move hard to know honestly but one thing is for sure, that alert is not a good signal for your trade and it can be a FUD or HYPE. Yes, that's a lot of money and we all know the issues with XRP but let's not assume and just see the current price of XRP, I can't see any big change because its still down by 9% in 7 days which is pretty normal in the past weeks.

[SyndicateLabs]

During this market time, I hardly care about these issues. They can affect and create panic for those who are intending to participate in them. But honestly, the things I've been through make me no longer believe this, and the things that I personally experience, whether failure or success, are always the motivation for me to think about a more positive future with those things. Sometimes, capturing too much information without filtering it out causes many people to lose their original trust and have more motivation to make decisions. We can say we are led by such sources of information. As for XRP, I don't mind too much because I really believe that in the future there will be big surprises that I have not imagined. Anyway, this is not a big problem to affect my XRP investment earlier.

[makishart]

It may be the exchange site wanna try to move the funds to the new safe address again. This is a common thing in the cryto but when another transaction was coming from the ripple team treasury and that will become a very good story that will be published by some medias and press.
So many whale transactions are also happening with bitcoin and ethereum as well. So, moving the funds from one to the another address can be a signal or sometime it's just a way to make people are feeling fear if it will be dumped to the market and eating the liquidity

[el kaka22]

If the story about uphold being the one that moved these, then I do not see this as a problem, it is just exchange moving their funds and that is expected. However, if this is something else, if there is a difference to it, then I would have to say that this could have been an issue for people as well. That shiba whale was a scary situation because it's shiba and it's volatile and it is pure hype filled memecoin and nothing else.

XRP is a bit different since it is "used" for something, still a shitty centralized currency that I hate, but I have to give them where their credit is due and say they are at least more serious than shiba, everything is more serious than shiba to be fair.