Summary XRP whales transferred 240 million tokens worth $215.2 million as the cryptocurrency plunged to a two-year low of $0.89. Blockchain records revealed three unidentified wallets handled
Two massive XRP transactions totaling 240 million tokens coincided with a major price decline that pushed XRP to $0.89. According to Whale Alert, two transfers involving 120 million XRP each occurred seven minutes apart on November 15. Their combined value reached approximately $215.2 million.
Meanwhile, TradingView data showed XRP falling to its lowest level in two years before recovering to $0.963. The cryptocurrency initially broke below $1 on November 13, ending a period above that threshold since mid-August.
The timing of these transactions coincided with increased selling pressure across the cryptocurrency market. Blockchain records, nevertheless, showed no immediate movement of the transferred tokens onto exchanges.
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According to XRPSCAN and Bithomp, both transactions followed an identical route involving three cryptocurrency wallets without identified owners.
The transfers originated from an address beginning with rGMiNv before reaching an intermediate wallet identified by r3bh7p. Subsequently, the tokens moved almost immediately into another address beginning with rpxh7h.
Blockchain records showed that the originating wallet retained only 98 XRP following the second transaction. Additionally, TrackWhale classified the activity as a wallet rotation, suggesting a possible redistribution of holdings.
None of the three addresses carried known connections to cryptocurrency exchanges or Ripple’s escrow accounts. XRPSCAN records also showed that the transferred 240 million XRP never reached an exchange during the observed movements.
Beyond the whale movements, institutional investment data revealed additional pressure on XRP during the broader cryptocurrency downturn. According to SoSoValue, U.S. spot XRP exchange-traded funds recorded $19.13 million in net outflows between November 9 and November 13. This marked their weakest weekly performance since March 2026.
Meanwhile, Glassnode reported that USDT and USDC’s combined market capitalization declined by $17 billion over the preceding month. Their aggregate market value reached approximately $244 billion, reflecting reduced stablecoin balances across the two leading assets.
Derivatives markets also experienced substantial liquidations as Bitcoin dropped below $67,000 during the wider market decline. According to CoinGlass, XRP futures liquidations reached $27 million within 24 hours, with long positions accounting for 97%. Additionally, Morpho recorded liquidations involving loans backed by cbXRP, extending the impact into decentralized lending markets.
These liquidations coincided with XRP’s decline below $1, as leveraged traders faced mounting losses across cryptocurrency exchanges. Meanwhile, XRP recovered toward $0.963 following the overnight decline, while the identities behind the two substantial transfers remained unknown.
Despite the transactions’ proximity to XRP’s two-year low, available blockchain records did not establish any direct connection between them and the price decline.
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The post XRP Whales Move 240 Million Tokens as Price Crashes to Two-Year Low of $0.89 appeared first on 36Crypto.
