425.8 Million XRP Bought by Anon Whale as Price Strives to Break $0.535 Resistance

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Whale Alert crypto tracking platform has spotted a staggering amount of Ripple-affiliated XRP tokens getting moved from a popular Netherlands-based crypto exchange to an unknown wallet.

🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 425,868,525 #XRP (220,143,198 USD) transferred from #Bitvavo to unknown wallethttps://t.co/f2bJvcoRXc

— Whale Alert (@whale_alert) August 25, 2023

This is the biggest XRP chunk moved within the last few weeks spotted by Whale Alert, except one billion XRP released by Ripple on Aug. 1 on schedule.

A total of 425,868,525 XRP were moved in this single massive transfer worth $220,143,198. A whale, apparently, has decided to buy XRP on the dip, withdrawing nearly half a billion of these tokens from Bitvavo and sending them to his cold wallet for long-term storage.

Last week, an unregistered wallet owner also withdrew 4.6 trillion Shiba Inu from this crypto exchange, moving the meme coins to a self-custody wallet.

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In the meantime, the price of XRP has been making attempts to recover after its 15% fall on Aug. 17. Since that time, it first saw a 12.15% rise followed by a decline of 4.75%. XRP seems to be trying to overcome the resistance level of $0.053516, but to no avail so far. At press time, XRP is changing hands at $0.52144.

Earlier this week, U.Today reported that an anonymous wallet owner transferred 29,300,000 XRP to the Bitstamp exchange to sell it.

#XRP Transfer #Cryptocurrency exchange #Cryptocurrency Whales

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Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets.

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