Pakinomist – Cryptocurrency analyst and trader Ali Martinez has taken to his account on the X social media giant to share with the community that a huge chunk of 100 million coins has changed hands over the past two days.

100 million XRP on the go

The analyst shared a chart produced by popular on-chain data aggregator Santiment, which revealed that cryptocurrency whales have begun a massive buying spree in the market. Over the past two days, they have accumulated an astounding 100,000,000 XRP. These were large wallets with between 1,000,000 and 10,000,000 XRP each.

At the current exchange rate, this amount of Ripple associated coins is valued at $327,484,478 as the XRP changes hands at $3.27 per coin.

According to the chart, over the previous two days whales sold a significant amount of XRP: “Whales bought over $100 million XRP in the last 48 hours.”

These 100 million XRP were bought as the third largest cryptocurrency by the size of the market cap, which fell and lost more than 10% – from approximately $3.27 to $2.92. Today, XRP saw a massive increase of more than 14% as it rose from $2.92 to $3.33. XRP followed the trajectory as the largest cryptocurrency reached a new record high of $109,114. Currently, BTC has shed some of its gains today and is trading at $107,468.

40 million XRP deposits hit Binance

As covered by Pakinomist earlier, a slightly smaller XRP chunk containing 40 million XRP coins was transferred to the largest global cryptocurrency exchange Binance from an anonymous cryptocurrency wallet.

While the community took this deposit as a bullish sign, Bithomp XRP-focused data platform revealed that the transfer had actually been made by a wallet linked to Binance. Therefore, it was an internal crypto transaction.