A total of 228 million XRP was transferred during the past hours, according to U-Today website.
Ripple Foundation, which owns more than 50 percent of the total XRP supply, has transferred almost 74 million of the cryptocurrency to an unknown destination.
The remaining amount was also moved to anonymous digital wallets.
Over the last four hours, XRPL Monitor has observed the transfer of a large amount of XRP reaching $38,167,200.
Nearly 74 million XRP moved from Ripple’s OTC Distribution wallet to an anonymous wallet, according to the Whale Alert
The XRP was moved to a BitGo wallet, which is a major service dealing with institutional clients and provides them with custodial services, data from the Bithomp analytical website showed.
Cryptolydian earlier reported that a total of 100 million XRP moved from one Ripple portfolio to another. Meanwhile, 30 million XRP moved to multi-signature wallets created by digital asset trust company BitGo.
Crypto exchanges Bithumb and Coinoine transferred the remainder of the XRP.
Despite the fact that the massive quantity of XRP injected into the market by Ripple is considered a bearish sign, traders are currently saying the contrary.
Justin Sun unveils positive outlook on XRP
In a recent interview with CNN, TRON CEO Justin Sun unveiled his positive outlook on the cryptocurrency, indicating that he owns large quantities of XRP and Ethereum.
Sun also said the Bitcoin will likely rally to $100,000 and will drive the other cryptocurrencies with it to the sky.
Sun tweeted that the number decentralized apps launched on the platform grows rapidly. He noted:
“At the moment, it totals 724.”
In addition, the CEO pointed to the instant growth in the number of active users and trading volume.
Over the last 24 hours, XRP rose 0.08 percent to $0.1728. It ranks 3rd with $7.59 billion.