A massive transfer of 29,532,534 XRP valued at $63,810,782 was detected moving to Coinbase, marking the second significant XRP movement reported by Whale Alert this week. The transfer was initiated by an anonymous wallet; however, Bithomp analytics suggests it was part of Coinbase’s rearrangement of XRP holdings. Earlier, 70,000,000 XRP was also transferred likely related to Ripple’s ODL system.
Whale Alert, a prominent blockchain tracker, reported an extraordinary transaction involving 29,532,534 XRP, valued at $63,810,782, which was transferred to Coinbase, the largest cryptocurrency exchange in the U.S. This event marks the second significant XRP transfer noted by Whale Alert this week.
The transaction was initiated by an anonymous digital wallet, leading many in the XRP community to speculate that it was intended for a large sale. However, data from the XRP explorer Bithomp indicates that Coinbase itself initiated the transfer to reorganise its XRP holdings.
Earlier this week, on April 14, Whale Alert also identified a transaction involving 70,000,000 XRP, worth $150,361,090. Bithomp confirmed that this transfer likely occurred between two wallets connected to Ripple, suggesting it was related to an On-Demand Liquidity (ODL) transfer on RippleNet, which utilises XRP for efficient payment flows.
