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    Prominent blockchain tracker Whale Alert, which monitors large cryptocurrency transfers, has spotted a massive crypto transaction that took place earlier today and carried tens of millions of dollars worth of XRP. The destination was the largest cryptocurrency exchange in the U.S. — Coinbase.

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    That was the second major XRP transfer this data source has reported this week so far.

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    29,532,534 XRP moved to Coinbase

    Whale Alert revealed that a total of 29,532,534 XRP tokens worth $63,810,782 at the time of the transfer was shoveled to the U.S.-based crypto trading venue Coinbase. The transaction was initiated by an anonymous digital wallet.

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    Many XRP enthusiasts in the comments assumed that this anonymous whale deposited the XRP to make a giant sale. However, data provided by the Bithomp XRP-focused explorer shows that the XRP transfer was initiated by Coinbase itself as the crypto exchange rearranged its XRP holdings.

    On April 14, Whale Alert spotted a transaction that carried almost 2x that amount of crypto, 70,000,000 XRP, worth $150,361,090. The same on-chain analytics data source as above (Bithomp) revealed that this massive XRP chunk was transferred between two wallets associated with Ripple, most likely making it an ODL transfer on the Ripple Payments system that runs on RippleNet using XRP.