Unit 2 · Reading big moves
Does XRP moving to an exchange mean selling?
- 2 min read
- 4 sections
- 3 questions · +25 XP
Not necessarily. There are three common misreads.
It may be an internal move
Exchanges keep cold storage and hot wallets and shuffle between them. That is housekeeping, not customer trading. We tag it "within the same exchange".
Many wallets have no known owner
"A whale sent to an exchange" is only true if we know who the sender is. Unlabeled wallets may be another exchange, a custodian or an institution. We only name wallets we have confirmed.
It may be a scheduled move
Moves on a fixed calendar, like the monthly escrow unlock and re-lock, are not news. We tag them "monthly schedule".
So here is how to read it
Look at the weekly change in total exchange-wallet balances, not single transfers. The weekly master report compares about 2,000 exchange wallets with 7 days earlier.
See it on the site
Related terms
- Destination tag
- A number exchanges use to tell customers apart when they all deposit to one wallet.
- Rich list
- A ranking of wallets by XRP balance. One wallet is not one person; an exchange wallet holds many customers’ coins.