According to on-chain data, Ripple has transferred a significant amount of XRP to unknown wallets, attracting interest from the cryptocurrency community. According to blockchain data tracker Whale Alert, Ripple shifted a total of 90 million XRP in two separate transactions within the last 24 hours.
🚨 🚨 🚨 🚨 🚨 50,000,000 #XRP (111,697,462 USD) transferred from #Ripple to unknown wallethttps://t.co/nWwkUGOhWA
— Whale Alert (@whale_alert) December 21, 2024The first transaction involved the transfer of 50 million XRP, worth around $111,697,462, moved by Ripple to another unknown wallet. Shortly after, a second transaction saw 40 million XRP, valued at $89,678,944, sent from Ripple to an unknown wallet.
HOT Stories XRP Price May Fall to $1 as in 2018, Bollinger Bands Signal DOGE to Moon or Ground? Dogecoin Creator Breaks Silence on 2025 Forecast Solana (SOL) Extreme Weakness: Key Reason Revealed SHIB Burns Soar 630% — What's Happening?
Related
Sat, 05/18/2024 - 13:29 Ripple Reveals Impressive Q1 XRP Growth in New Report
Tomiwabold Olajide
Interestingly, these transactions come amid a period of increased volatility in the market. XRP is holding steady above key support levels, following the massive sell-off in the past week. At the time of writing, XRP's price was up 2.12% in the last 24 hours to $2.27, recovering from earlier losses amid broader investors' caution toward risk assets.
XRP dipped to lows of $2.17 in Sunday's session before slightly recovering to highs of $2.29. Despite the recent market sell-off, XRP remains up 266% yearly.
What's going on?
While the exact reasons behind Ripple's 90 million XRP transfer are unknown, large-scale transfers often present a few potential scenarios.
Such movements may be related to routine liquidity operations or preparations for on-demand liquidity (ODL) services. Another possibility is wallet restructuring or internal fund management.
Large transfers to unknown wallets, which are not linked to crypto exchanges, might suggest buying; if this is the case, whales or institutional players might be accumulating XRP.
Related
Tue, 12/17/2024 - 12:20 Ripple CEO Reacts as RLUSD Launch Date Revealed
Tomiwabold Olajide
The timing of the transfers is noteworthy, coinciding with a period of market volatility that saw several crypto assets trade at a discount and days following RLUSD launch.
Ripple USD (RLUSD) stablecoin went live on global exchanges Dec. 17 in a major milestone for Ripple and the crypto community. Described as an "enterprise-grade stablecoin," the Ripple USD (RLUSD) introduces a top-tier, fully-backed U.S. dollar stablecoin to XRP Ledger, combining fiat stability with blockchain efficiency.
免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。
