Ripple Whale moved 143 million XRP as the big transfer season resumed in December

XRP’s on-chain status was scarred all over while the network’s growth and circulation was in shambles

Confidence in the midst of endless turbulence is usually a rare case, but not for Ripple [XRP] whales. One of these big investors again showed conviction in transactions over the network when 143 million XRP switched wallets. According to Whale Alert, this symbolic move amounted to $55.96 million.

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Before this stunning transaction, the whale tracking profile had repeatedly reported a remarkable XRP transfer. As of December 2022 alone, more than 100 million XPR wallets had moved prior to the aforementioned transaction.

Can’t grow anymore

After development, Ripple’s network growth was unable to recover. According to Santiment, the network’s growth has been in free fall since December 4. At the time of writing, it was down to 611.

An evaluation of this situation showed that very few new addresses interacted with the Ripple chain. So it was more whales making the accumulation and transaction bids, while private investors stood as spectators.

Source: Sentiment

In terms of supply, the on-chain platforms showed that XRP’s off-exchange supply had leveled off. With 99.97 billion, the linear state meant that the token holder was not necessarily following recent community guidelines to “protect themselves” with decentralized exchanges or self-custody.

Moreover, the one-day circulation also followed in the footsteps of the network’s growth. At the time of writing, it left its peak on December 7, weakening to an extremely low level of 104.42 million. The circulation at this size showed that as there were fewer new addresses, XRP’s unique trades were not something to look forward to.

A close look at the number of transactions at the time of writing revealed that 37,400. This further proved the neglect that Ripple had faced from investors.

Source: Sentiment

Where are the whales?

While XRP changed hands at $0.388 on Dec. 10, Santiment data revealed that subsequent whale trades were not as remarkable compared to previous days. As of Dec. 10, there were 29 whale trades of $100,000 and over.

Meanwhile, Ripple seemed to have shifted its focus to its battle with the SEC. This was because there was almost no development activity in the chain with a drop to 1.64. However, this did not translate into total rejection. But the decline reflected little focus on collaboration and upgrades.

Source: Sentiment

Needless to say, a Crowdfund insider noted that Ripple was not completely ignoring its primary mission. As of December 9, it has taken another step towards being transfer goals following a partnership linking payments to the United States and Mexico.





This post Ripple whale moves 143 million, but where does XRP stand in reality

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