$63,810,782 in XRP Stun Largest US Crypto Exchange Coinbase, Here's Pivot

Prominent blockchain tracker Whale Alert, which monitors large cryptocurrency transfers, has spotted a massive crypto transaction that took place earlier today and carried tens of millions of dollars worth of $XRP. The destination was the largest cryptocurrency exchange in the U.S. — Coinbase.

That was the second major $XRP transfer this data source has reported this week so far.

29,532,534 $XRP moved to Coinbase

Whale Alert revealed that a total of 29,532,534 $XRP tokens worth $63,810,782 at the time of the transfer was shoveled to the U.S.-based crypto trading venue Coinbase. The transaction was initiated by an anonymous digital wallet.

Many $XRP enthusiasts in the comments assumed that this anonymous whale deposited the $XRP to make a giant sale. However, data provided by the Bithomp $XRP-focused explorer shows that the $XRP transfer was initiated by Coinbase itself as the crypto exchange rearranged its $XRP holdings.

On April 14, Whale Alert spotted a transaction that carried almost 2x that amount of crypto, 70,000,000 $XRP, worth $150,361,090. The same on-chain analytics data source as above (Bithomp) revealed that this massive $XRP chunk was transferred between two wallets associated with Ripple, most likely making it an ODL transfer on the Ripple Payments system that runs on RippleNet using $XRP.