The XRP community buzzed with curiosity after crypto whales moved over 1.6 billion XRP, worth around $814 million, across two prominent exchanges, Bithumb and Bybit, within a few hours on Tuesday. These large-scale transactions ignited interest within the community, raising questions about the purpose and origin of the transfers.
Whale Alert, a crypto monitoring service, documented five separate transactions totaling over 1.6 billion XRP. The movement involved both deposits and withdrawals between exchanges and unknown wallets, causing a stir in the market. The first major transfer occurred at 13:53 UTC, when Bithumb, a South Korea-based crypto exchange, sent 580,092,812 XRP (about $297 million) to an unidentified wallet with the address “rPyCQm.”
Rapid Successive Transfers Spark Speculation
Only minutes later, another significant transaction followed. At 14:00 UTC, a different Bithumb-linked wallet, “mArodsZ,” transferred 199,999,993 XRP (valued at $101 million) to the same receiving address, “rPyCQm.” Just two minutes later, at 14:02 UTC, the wallet received an additional 200,000,043 XRP, worth approximately $101.3 million, from another Bithumb-associated address, “rJyEK6.”
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The most substantial transfer of the day occurred at 14:06 UTC, when yet another Bithumb-linked wallet, “rZcBQa,” sent a staggering 600,000,096 XRP (around $304 million) to the receiving address, which remained unchanged. With these transactions, the “rPyCQm” wallet accumulated nearly 1.586 billion XRP, valued at around $859 million, all sourced from Bithumb.
Whale Activity Extends to Bybit
Shortly afterward, another whale moved 20,000,000 XRP (worth $10.2 million) to a Bybit-tagged address, “rMvCas,” at 15:06 UTC. The sending wallet, identified as “raQxZL,” has a record of recent transfers to Bybit, including two transactions of 10 million XRP each on November 1 and November 4, respectively.
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As of the latest update, the address “raQxZL” holds approximately 386 million XRP, valued at around $200 million.
XRP’s value rose by 5.44% in the past 24 hours, currently trading at $0.5374, adding to the excitement in the XRP community as whale activity continues to make waves in the market.
