Ripple Moves 97 Million $XRP as Price Rises, Community Intrigued https://t.co/U7JvU4yfED
— Crypto Hodl News (@cryptohodlnews) December 27, 2023
A
A
Ripple Conducts Massive XRP Transfers and Raises Doubts in Crypto Community
Thu 28 Dec 2023 ▪
3
min read ▪ by
Getting informed
▪
Not long ago, the crypto firm Ripple released a portion of its XRP reserves, raising questions about potential impacts on the XRP market. New transactions of the same type carried out by Ripple and involving anonymous wallets have caught the attention of the crypto community.
Ripple Involved in the Massive Transfer of Millions of XRP Cryptocurrencies
Information disclosed by the crypto wallet tracker Whale Alert reveals Ripple’s role in significant movements involving XRP holdings. In the last 24 hours, four notable XRP transactions have been made.
The total value of these holdings is estimated at nearly half a billion dollars. Whale Alert specifically mentions two transactions. The largest of the four involved the transfer of 300 million XRP valued at approximately 185 million dollars.
The tracker also points out a second transaction, notably the smallest, which consisted of moving 139,374,499 XRP. A total of cryptocurrencies equivalent to just over 86 million dollars.
Simultaneously, Whale Alert revealed two other transactions initiated by Ripple. First, a transfer of 70,000,000 XRP valued at 43,171,395 dollars. Second, another operation involving 27,800,000 XRP worth 17,198,375 dollars. It turned out that most of these operations are linked to unidentified crypto wallets, some associated with the exchanges Binance and Bitstamp.
The Perplexity of the Crypto Community
Arguably, this series of operations involving Ripple and unidentified crypto wallets is legitimate. Legitimacy that nonetheless leaves perplexity regarding the multiplication of such operations.
A few days ago, Ripple had already sparked many questions by releasing a part of its XRP reserve onto the market. Seen in conjunction with the recent operations, it’s understandable why speculation is rife within the crypto community.
The community is abuzz, wondering about the origins of these massive transactions. They also raise concerns about potential effects on the valuation of XRP.
Regardless, Ripple’s native crypto is currently valued at 0.63 dollars. Its price has seen an increase of 2.91% in the last 24 hours and a weekly rise of 2.10%. Ripple’s XRP thus exhibits a certain dynamism.
Maximize your Cointribune experience with our "Read to Earn" program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
A
A
Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.