Whale crypto tracker WhaleAlert once again signaled the emergence of millions of XRP transactions. The action took place in three stages, but this time it did not concern the Ripple wallet.
First, 60 million XRP was transferred from an unknown wallet to Bitstamp, the same exchange where Jed McCaleb’s tokens were sold, and 40 million to Bitso, a crypto exchange based in Mexico. These transactions were made from the same unknown wallet. Then 65.54 million XRP was transferred from the Bitstamp address to another unidentified wallet.
The total turnover was 165.54 million XRP, which at that time was equal to $55 million. These numbers are roughly in line with other strange XRP transactions that have taken place in the past week.
Are these XRP transactions really confusing?
Bitstamp and Bitso are some of the most well-known cogs in Ripple’s ODL mechanism, and in general there is nothing strange about their presence in this transaction chain. On the contrary, similar transactions have been seen previously with both of these sites. However, previous large transactions have never been preceded by such a strong increase in XRP trading volume.
Another interesting pattern is that Ripple has announced a major partnership with FOMO Pay, one of Singapore’s leading payment processors. Recall that one of the possible reasons for the appearance of transactions was the imminent announcement of a major partnership involving XRP – which actually happened.
Perhaps, if transactions continue to happen, we can expect more announcements from Ripple or XRPL in the near future, and they will become a kind of signal.
Credit : u.today