$103 Million XRP Deposit Hits Coinbase as XRP Gains Another 10%

Prominent blockchain tracker Whale Alert, which monitors large cryptocurrency transfers, has spotted two transactions, which moved a substantial amount of $XRP each. One of them was transferred to the largest U.S. crypto exchange, Coinbase.

This increased whale activity has been spotted while the $XRP coin continues to rise after it recaptured third place on CoinMarketCap. After a sudden 16% decline on Tuesday, when $XRP dropped from $2.86 to $2.41, $XRP has managed to recover 10% and is now changing hands at $2.56.

$103 million in $XRP transferred to Coinbase

The data source mentioned above revealed that over the past eight hours, an anonymous cryptocurrency whale shoveled 39,999,989 $XRP worth $103,181,519 to the Coinbase exchange.

The second transfer spotted by Whale Alert carried 19,999,989 $XRP valued at $52,975,474 from one unknown wallet to another. In total, roughly 60 million $XRP have been transferred. It was the equivalent of $156 million.

The increased whale activity was confirmed earlier this week by Santiment data, which revealed that over the weekend, whales accumulated 160 million $XRP, paying roughly $380 million for it.

On Dec. 3, Whale Alert also reported a staggering 273.4 million $XRP in six transactions. The largest ones carried 100 million $XRP and 60 million $XRP. Two large crypto exchanges were involved in those transfers and both are based in South Korea – Bithump and Upbit.

As $XRP skyrocketed to $2.49 for the first time since January of 2018, whales with 1-10 million $XRP in their bags grabbed 679.1 million $XRP. By the time of the historic price jump, this amount of $XRP spiked to $1.66 billion. Nonempty wallets also acquired a significant amount of $XRP – 5.5 million coins.

Ripple issues critical scam alert

On Dec. 2, Ripple issued a scam alert. It was a short video, in which the company CEO Brad Garlinghouse warned the $XRP community that while the market is rising, so are scams and fake airdrops.

The video warned that Ripple or any of its top executives - CEO Brad Garlinghouse, CTO David Schwartz, President Monica Long, etc., - would never ask holders to send them $XRP to receive a double amount afterwards, the classic scammers’ scheme. “Stay aware. Stay safe,” the Ripple X post says.