The cryptocurrency is up by more than 6% in the last 24 hours.

XRP whale addresses have started moving the world’s 7th most valuable digital currency amid market volatility. According to the latest data published by blockchain tracking and analytics firm, Whale Alert, a leading XRP wallet transferred 176 million coins worth approximately $146 million on Saturday 12 May.

The mentioned transaction was executed at around 15:44 UTC, and it was recorded on Bithomp.com. The recent transfer of the XRP whale from an unknown wallet is one of the largest moves since the start of this month.

During the last week of May 2021, an anonymous whale address moved 139 million XRP coins from an unknown wallet after the price of the cryptocurrency jumped above $1. The network activity of XRP has increased substantially in the last few weeks.