A major investor in the top 0.01% of XRP’s rich list is distributing over 99 million XRP tokens across two new wallets.
Market tracking platform Whale Alert has indexed a notable fund flow in X’s recent disclosure. Notably, the whale in question is the first received 99.225 million XRP at 15:26 UTC on August 24. This transaction activated the address, marking its first activity.
Whale Mixes 99M+ XRP
This single-fund move has propelled the new wallet into the top 0.01% of the XRP rich list. Data from community-run resource rich-list.info confirms that this cohort of addresses holds balances equal to or greater than 7.46 million XRP, making them the most exclusive tier. There are currently only 529 addresses in the top 0.01%.
However, almost 24 hours after receiving 99.225 million XRP, the wallet in question shuffled the tokens between two different addresses. First, it transferred 2 million XRP to a relatively old wallet at 15:06 UTC yesterday. Two minutes later, the whale transmitted 97.225 million XRP tokens to another new wallet.
The new wallet has held the tokens ever since, maintaining its position in the top 0.01%. Meanwhile, the recipient of the 2 million XRP has continued to move portions of the assets across multiple platforms, including Nexo, KuCoin, Stake.com, Coinspaid, Crypto.com, and many others.
While recent whale transactions resemble Ripple’s on-chain activity, there is no evidence linking them to the payments firm. Two weeks ago, Ripple Transfers 146.9 Million XRPwith 46.9 million tokens reaching the Bitso and Bitstamp exchanges. Since then, the company has continued to move tokens.
Who is behind the latest whale movements?
However, an online investigation by The Crypto Basic has found that recent movements do not match typical Ripple operations. Instead, these transactions involve the creation of new whale addresses to mix millions of XRP. Additionally, the wallets in question have no connection to Ripple.
Interestingly, the movement of XRP shares to several centralized platforms such as Nexo, Stake.com, and Coinspaid suggests that whale wallets may belong to another exchange. These small movements are often associated with withdrawal requests from users. However, this remains unconfirmed.
Meanwhile, recent whale deals have had little impact on XRP Price DynamicsXRP is currently trading at $0.5996, down 1.75% in the last 24 hours. Despite the ongoing struggle, the price of XRP has risen 5.31% in the last seven days.
