Massive Crypto Movement: Bitcoin and XRP Whales Move Over $650M in 24 Hours

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In a remarkable display of market power, some of the largest holders of Bitcoin and XRP have transferred massive amounts of their digital assets in a short period.

According to Whale Alert, a platform that tracks large crypto transactions, more than $650 million worth of Bitcoin and XRP changed hands in just 24 hours, reports Bitcoin World.

Bitcoin Whales Move Over $500 Million

The most notable movement involved Bitcoin, the leading cryptocurrency by market capitalization. Whale Alert reported that over 500 million worth of Bitcoin was moved by crypto whales in a single day, with the largest transaction being 6,582 BTC worth $182,629,202 transferred from an unknown wallet to another.

Other significant transfers included 5,000 BTC worth $141,189,856, 3,999 BTC worth $112,874,776, and 2,001 BTC worth $56,883,243.

Most of these transactions were between unknown wallets, suggesting that some whales may be reorganizing their portfolios or preparing for a major move.

XRP Whales Shift Over $150 Million

Meanwhile, XRP, the native asset of Ripple’s payment network, also saw some large movements by its whales.

Whale Alert detected that over 150 million worth of XRP was shifted by crypto whales in the same period, with the biggest transaction being 100,000,000 XRP worth $53,439,878 moved from one unknown wallet to another.

Other notable transfers included 95,000,000 XRP worth $51,699,751 and 31,723,527 XRP worth $17,098,354.

Some of these transactions involved crypto exchanges such as Bitstamp and Crypto.com, indicating that some whales may be trading or cashing out their holdings.

What Does It Mean for the Crypto Market?

The sudden surge in whale activity may have several implications for the crypto market. On the one hand, it may signal that some whales are bullish on Bitcoin and XRP, accumulating more of these assets at current prices.

On the other hand, it may also indicate that some whales are bearish or cautious, moving their assets to safer wallets or liquidating them for fiat or other cryptocurrencies.

Either way, these large movements may impact the market sentiment and volatility of Bitcoin and XRP, which are currently trading sideways after a recent correction.