Whale Alert Spots Major XRP Transactions

Popular blockchain sleuth Whale Alert, which tracks large cryptocurrency transfers, identified two significant XRP transactions totaling nearly 60 million XRP.

These transactions primarily involved anonymous wallets, igniting discussions within the crypto community regarding the possible participants. However, another blockchain tracking account intervened to clarify the information shared by Whale Alert.

56,698,207 XRP on the Move

Whale Alert reported two large XRP transfers executed in the past day: 40,000,000 XRP and 16,698,207 XRP, valued at $131,081,333 and $55,279,692 in fiat when the transactions occurred.

The first and larger transfer involved moving XRP from one anonymous wallet to another, while the second transaction was initiated by an unknown wallet and directed to Coinbase, the largest U.S.-based cryptocurrency exchange.

Community Reactions

As the community engaged in vigorous debates about the nature of these transactions—some speculating potential money laundering—an analytics account, @XRPwallets, provided clarity.

According to @XRPwallets, the 40,000,000 XRP transfer was made by Ripple to one of its wallets for external use:
> “Ripple 50 to Ripple 50 subwallet for ETPs, Trust. Other Investments.”

This transaction is labeled as a frequently occurring one, and users can track total amounts in Ripple Holdings/Escrow.

Coinbase Transaction

As for the second transfer, @XRPwallets clarified that it was an internal transaction within Coinbase:
> “Coinbase Cold Wallet 394 to Coinbase 7.”

The posting indicated that 28 cold wallets remain, each containing 16.5M XRP.

Conclusion

Overall, Whale Alert’s findings have sparked significant dialogue, yet expert input has helped clarify the nature of these substantial transactions, primarily involving Ripple and Coinbase.