XRP is the cryptocurrency that runs on a digital payment platform called RippleNet, which is on top of a Distributed Ledger Database called XRP Ledger. Currently, XRP is the world’s 7th largest cryptocurrency, it is recovering from the latest market correction. The price of the digital asset jumped by nearly 6% in the last 24 hours.
Recently the coin has seen some noticeable activity, millions of XRP are on the move with the execution of large transactions. Whale Alert, the blockchain tracking and analytics platform, highlighted a recent transfer worth approximately $18 million from cryptocurrency exchange Binance to a digital wallet.
According to Whale Alert, a leading XRP account moved 26 million coins from Binance to a crypto wallet on Thursday 24 June at 17:00 UTC. The mentioned transaction was recorded on Bithomp. The latest transfer was executed around 2 weeks after a leading crypto whale account moved 176 million XRP worth nearly $146 million on 12 June to a digital wallet. Despite the recent correction in the price some investment analysis are still looking for those XRP transactions to continue moving.
The total number of XRP whales has also increased substantially during the last few months. According to the latest Q1 2021 Markets report published by the San Francisco-based blockchain firm Ripple, XRP accumulation increased rapidly during the first three months of 2021.
“The number of “whale” wallets, defined as wallets with balances of at least 10 Million XRP, increased from 308 to 319. Similarly, the number of wallets holding between 1M and 10M coins increased from 1,125 to 1,196,” Ripple mentioned in the report.
