XRP whales have moved more than $144 million to crypto exchanges in the last week.
Ripple increases sales of its XRP funds to an all-time high.
XRP leads the monthly chart in earnings of the top 20 cryptocurrencies with 159%. In that period, only XLM comes close to similar gains at 137%. However, transaction monitors have begun to record an increase in XRP whale activity that should put investors on guard.
According to Whale Alert monitor, about $352 million in XRP has been moved in the last day. Two of the largest transactions moved about $120 million between two unknown wallets. In addition, Whale Alert recorded a $75 million or 116 million XRP transaction from the Ripple Genesis wallet to an unknown wallet.
The most important increase in XRP whale activity has been towards crypto exchanges. Whale Alert indicates that over $144 million has moved to Binance, Coinbase, Bybit, and other platforms in the last week. This could indicate that big investors are preparing to sell XRP soon.
Ripple has also moved funds from its escrow. Ripple has moved 1 billion XRP in two different transactions of 500 million XRP. In total, the company has made transactions worth nearly $654 million. This is done by the company every month as part of its financing.
Ripples co-founder increases XRP sales
Jed McCaleb, one of the 3 original architects of the XRPL along with David Schwartz and Arthur Britto, has over 3.8 billion XRPs. According to an agreement signed with Ripple, McCaleb is allowed to sell his funds at a certain rate. The rate of sale is currently at an all-time high.
According to Leonidas Hadjiloizou, this is because Ripples increases XRP sales. As a result, the percentage of the digital asset that McCaleb can put on the market is increasing.