Prominent blockchain tracker Whale Alert identified two significant XRP transactions. One of these, involving 39,999,989 XRP valued at $103.18 million, went directly to Coinbase, the largest U.S. cryptocurrency exchange. The second transfer, totaling 19,999,989 XRP worth $52.97 million, moved between anonymous wallets. In total, these two transactions accounted for roughly 60 million XRP, equivalent to $156 million.
XRP Price Rebounds After Sudden Drop
XRP’s price recently experienced a volatile shift. Following a sharp 16% drop from $2.86 to $2.41, the coin rebounded by 10%, trading at $2.56. This recovery comes as XRP solidifies its position as the third-largest cryptocurrency on CoinMarketCap. Increased whale activity appears to be fueling this momentum.
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Santiment data confirmed heightened whale activity earlier this week. Over the weekend, large investors amassed 160 million XRP, spending around $380 million. On Dec. 3, Whale Alert tracked six notable transactions totaling 273.4 million XRP. Among them were transfers of 100 million and 60 million XRP. These movements involved South Korean exchanges Bithumb and Upbit.
Source: CoinMarketCap
As XRP soared to $2.49, its highest level since January 2018, whales holding between 1 million and 10 million XRP accumulated 679.1 million coins, valued at $1.66 billion. Smaller investors also joined in, acquiring an additional 5.5 million XRP.
Ripple Issues Scam Warning Amid Rising Market
In light of XRP’s recent surge, Ripple issued a scam alert on Dec. 2. CEO Brad Garlinghouse released a video warning the community about fraudulent schemes. Scammers often promise double returns in exchange for XRP.
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Garlinghouse emphasized that neither Ripple nor its executives, including CTO David Schwartz and President Monica Long, would ask for XRP in such a manner. Ripple’s message urged users to “stay aware and stay safe.”
This proactive approach highlights the risks accompanying rapid market gains and encourages vigilance among investors.
