$103 Million XRP Deposit Hits Coinbase as XRP Gains Another 10%
2024-12-04

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.
🚨 🚨 🚨 🚨 🚨 39,999,989 #XRP (103,181,519 USD) transferred from unknown wallet to #Coinbasehttps://t.co/RxWiHTHdOf
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.