In a recent revelation, it has come to notice that an XRP Whale has transferred XRP worth $15.6 million to an unknown wallet. Moreover, the XRP whales and big bulls are shifting the fourth largest cryptocurrency in significantly large amounts amid the recent rise in the price of the share.

XRP Whale Moves $15.6M Coins to an Unknown Wallet

In accordance with data released recently by leading blockchain tracking and analytics company Whale Alert, an XRP Whale transferred $15.6 million worth of the native currency of Ripple, XRP.

The shifting has been done through crypto.com and is transferred to an unknown wallet.

As the data revealed, the execution of the transfer took place on April 25 at 00:14 UTC, and the move was recorded on Bithomp.com.

Over the weekend, the price of the cryptocurrency gained momentum and jumped over 12% in the last 24 hours to reach the mark of $1.19. It should also be known that the market capitalization of the currency is more than $53 billion.

XRP has witnessed a notable rally in the last few weeks as the digital currency touched the mark of $1.94 on April 14, which is the highest level of the currency in over 3 years.

Weekly Inflows in the Native Cryptocurrency

In the third week of April 2021, XRP attracted around $33 million in the weekly institutional inflows, which is its highest level on record. 

The fourth-largest cryptocurrency in the world has almost doubled from its total digital assets under management to $83 million during the same period amid a rise in the demand from institutional investors.

In addition to this, the growing popularity of the XRP Ledger is playing a vital role in the most recent price action of the asset.

Ripple made an announcement during the very first week of the month of March of the year 2021, that said that the firm is planning to extend support to the central banks around the world through a more secure version of XRPL.