As a seasoned researcher with a keen eye for crypto market trends, I find myself intrigued by the recent surge of RLUSD transfers observed over the past 12 hours. With my extensive background in blockchain technology and digital currencies, I can’t help but notice the pattern that seems to suggest a connection between these transfers and the minting process.
According to updates from the Ripple Stablecoin Tracker on platform X, in the past 12 hours, approximately a dozen transfers totaling around 20 million units of Ripple’s USD-pegged stablecoins (RLUSD) have been detected. These transactions appear to have taken place after the creation of new coins.
Just last week, Ripple introduced a fresh offering predicted to significantly impact the cryptocurrency scene in the coming days.
17 million RLUSD transferred after minting
As reported by our specified data source, over the past period, it is said that Ripple Treasury has produced nine sets of RLUSD. These newly created RLUSD units have been transferred through wallets identified as “unknown” to unidentified recipients’ wallets.
🚨🚨🚨🚨🚨🚨 2,999,990 #RLUSD transferred from unknown wallet to unknown wallet.
— Ripple Stablecoin Tracker (@RL_Tracker) December 24, 2024
The biggest transactions involved 3,000,000 and 2,999,990 units of RLUSD, while smaller ones transferred 1,201,088 RLUSD and 500,000 RLUSD. These transactions took place between unidentified wallets, suggesting a potential connection to the Ripple Treasury as the stablecoin was only recently launched last Monday.
On Friday, Ripple transferred around 10 million units of its RLUSD stablecoins in an hour, dividing these transfers into one-million unit portions at a time. Some of these transactions were directed to the Uphold exchange located in Lithuania. The blockchain company headquartered in San Francisco has launched a promotional campaign for its latest product, with key Ripple officials expressing their views on RLUSD and its potential market growth.
Ripple CTO triggers crypto discussion with pre-Christmas tweet
David Schwartz, the CTO at Ripple, shared a festive message on his Twitter account before Christmas, asking his followers: “What’s something unconventional that you would like for Christmas?
So, what’s on your wishlist this holiday season? (Informal)
— David “JoelKatz” Schwartz (@JoelKatz) December 24, 2024
It’s not surprising that many of his followers started discussing cryptocurrencies like XRP, RLUSD, among others. Some expressed their hopes about the potential increase in the value of XRP: “Predicted XRP price to reach $5.89”, “Planning to buy 20 large black gym bags to store my XRP coins and a pile of RLUSD”, “Applying for a job at Ripple as a janitor”, and “XRP might hit $20, but that’s an unlikely scenario.
They also talked about other well-known cryptocurrencies like Tether and Shiba Inu. The discussion included the possibility of Tether losing its peg, and anticipation that Shiba Inu could see a significant surge.
Currently, XRP – the fourth largest cryptocurrency – has experienced a 4.2% rise. Over the past few days, it’s been attempting to break through a resistance near the $2.23 mark and return to its recent highs where it nearly touched the $3 price point. As I write this, XRP is being traded at $2.23674.
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2024-12-24 16:18