Over the past week, the cryptocurrency market saw some notable developments and movements. Recently, it was reported that a number of large XRP holders, primarily whales, transferred a large number of XRP tokens to exchanges.

As per the data obtained from the analytical top-tier company Whale Alert, the total transaction of XRP tokens over the past seven days exceeded 146 million tokens. These transactions were sent from multiple wallets tied to exchanges, such as Binance and Bitfinex, and another wallet of unknown origin.

One of the biggest transactions was made on March 15. A total of 76,337,561 XRP tokens, worth over $15 million, were moved to an unknown wallet in one go. Research conducted by Whale Alert indicates that this transaction involved the Bitstamp exchange, with 20 million XRP tokens being sent to Ripple’s Established Escrow Treasury.

Other large transactions also occurred, with two transactions of 20 million XRP sent to different wallets in a matter of hours on March 17. One of these transactions was sent to Bitfinex, while the other was sent to an unknown wallet.

These large XRP transactions come shortly after the announcement of the Flare Network’s airdrop, which allowed XRP holders to receive Spark tokens. These Spark tokens are a governance token of the Flare Network and can be used to stake the network and vote in order to receive rewards. As a result, it is probable that the timing of these large XRP transfers is related to the Flare Network’s airdrop.

Over the past week, the XRP token has also shown signs of growth in market price. This indicates that the increased demand for XRP is due to the accessibility of the Flare Network and with investors trying to accumulate XRP tokens in order to take advantage of the airdrop event. With whales engaging in large scale XRP purchases and investing their tokens into the Flare Network, there may be a potential for the price of XRP to soar over the next few weeks.

In the past seven days, XRP whales have engaged in large transactions of the token. A total of 146 million XRP tokens were transferred to exchanges and other wallets, with the largest transaction involving over 76 million XRP tokens. These transactions were likely prompted by the announcement of the Flare Network’s airdrop, which gives holders a chance to receive Spark tokens through staking and voting. Investors appear to be keen on buying XRP tokens in order to take part in the airdrop and benefit from the potential price growth it may bring. This spike in activity and the subsequent incremental increase in XRP’s market value suggest that investors are taking advantage of the airdrop and are hopeful that XRP’s price will continue to grow in the next few weeks.



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