As a researcher with a background in cryptocurrencies and blockchain technology, I find the recent XRP transaction reported by Whale Alert intriguing. The movement of 150 million XRP between two addresses, one belonging to Ripple and the other unknown, has sparked speculation within the community.
As a crypto investor following the XRP market closely, I recently came across an intriguing development reported by Whale Alert. They noted a substantial transfer of 150 million XRP tokens between two distinct wallet addresses. Sadly, the identity of one of these addresses remains elusive, but I can confirm that the other is linked to Ripple’s official account.
As a researcher delving into the on-chain data from Bithomp, I discovered that the recipient address “rP4X2h,” which is believed to be linked to the Ripple wallet, was first activated in the year 2023. The initial transaction involved a transfer of 70 million XRP units. Before this significant transaction, the address had already amassed a substantial balance of 103.4 million XRP.
Within a short timeframe following the acquisition of an extra 200 million tokens, approximately 50 million XRP were rapidly moved to the mystery address “rhWt2bh” without disclosing its identity.
XRP price outlook
Based on the link to Ripple and the significant amount held in this wallet, there’s a strong suspicion that it belongs to the company itself or one of its associates.
As a crypto investor, I acknowledge that the specific actions Ripple takes with its XRP holdings, such as transferring them or selling them, don’t significantly impact the coin’s price in isolation. The real focus should be on the broader market trends and the outlook for XRP’s price action. This week has seen some volatility for XRP, starting with a bullish surge at the beginning, only to experience a correction since then.
However, the price has recovered partly since then.
Currently on July 9, 2024, XRP finds itself in a questionable price range according to certain market analysts. The specific figure may fluctuate among different resources, but it’s evident that XRP has pulled back from its early profits.
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2024-07-09 15:03