As a seasoned cryptocurrency researcher with years of experience under my belt, I’ve learned to take such large transactions with a grain of salt. While it’s natural for the XRP community to raise eyebrows at Ripple’s massive transfer, these movements are not uncommon in the world of crypto.
The blockchain monitoring service, Whale Alert, which focuses on significant crypto transactions and broadcasts such info on the X platform, has spotted numerous substantial XRP transactions happening within the past day.
Among them was a transfer conducted by San Francisco-based blockchain behemoth Ripple.
187 million XRP on move
According to the previously mentioned data system, it showed four significant cryptocurrency transactions involving XRP, collectively amounting to an impressive 187 million XRP, equivalent to about $54,594,473. The biggest chunk of this XRP was transferred by Ripple Labs, representing a whopping 100,000,000 XRP. This move sparked discussions within the XRP community, as they questioned the intention behind such a large sale of XRP by Ripple.
As a crypto investor, I noticed that the funds were transferred to an anonymous blockchain address, but upon closer inspection using the XRP-centric explorer Bithomp, it appears this was an internal transaction originating from Ripple and destined for one of their own wallets.
A mystery whale transferred approximately 31 million XRP, equivalent to around $16.9 million in traditional currency, into their digital wallet. The rest of the two transactions sent 29.1 million and 26.8 million XRP to the cryptocurrency exchanges Bitso (located in Mexico) and Bitstamp (based in Europe).
It was found that the unidentified wallets responsible for those transactions were linked to Ripple, whereas Bitso and Bitstamp are associated with the entities working closely with the leading cryptocurrency company, facilitating the operation of the Ripple Payments service through XRP tokens.
Yesterday, the system Whale Alert picked up on a huge $105,000,000 worth of Ripple (XRP) transfer occurring between two unidentified large-scale crypto holders. This information was subsequently posted on Twitter yesterday.
XRP price performance
In the last seven days, the digital currency XRP, which ranks seventh by market cap value, experienced a remarkable drop of approximately 13.34%. This dip caused it to forfeit the $0.62 mark and fall to around $0.54.
Over the last day, the price drop of XRP was amplified, with a decrease of 3.45%. Yet, it showed some resilience and experienced growth of 1.7%, attempting to offset its earlier losses.
Read More
- SOL PREDICTION. SOL cryptocurrency
- BTC PREDICTION. BTC cryptocurrency
- USD ZAR PREDICTION
- CKB PREDICTION. CKB cryptocurrency
- USD COP PREDICTION
- LUNC PREDICTION. LUNC cryptocurrency
- EUR ILS PREDICTION
- REF PREDICTION. REF cryptocurrency
- TROY PREDICTION. TROY cryptocurrency
- LBT PREDICTION. LBT cryptocurrency
2024-09-06 17:59