Ripple Distributes 50 Million XRP to Anonymous Wallet

According to statistics supplied by the WhaleStats website, which tracks huge crypto transactions, almost 582 million XRP have been transferred in the previous 24 hours. This involves the transfer of 50 million XRP by Ripple.

According to the previously cited source, the Ripple giant sent 50 million XRP to an unidentified wallet five hours ago.

Nonetheless, data from the XRP-centric Bithomp wallet tracker indicates that this enormous amount of XRP was transmitted to RL18-VN, its own alternate address. Typically, it is used to move XRP outside the fintech titan to institutional clients and exchanges, to sell or sustain the coin’s liquidity, and to wallets like BitGo.

As its price rises, Ripple is preparing to release an additional 50 million tokens into circulation.

Additionally, Whale Alert stated that 581,6 million XRP were moved between exchanges. Two transactions carrying 150,000,000 tokens each were the biggest. One of them was transferred from an unidentified wallet to the crypto trading firm FTX.

According to statistics given by CoinMarketCap, the seventh most valuable cryptocurrency, XRP, is now trading at $0.3785 at the time that this article is being written.

According to the same source, the price of XRP has climbed by 6.61% during the course of the last week.

Also Read: Ripple, SEC Lawsuit Can Ends After ‘Summary Judgement’ Filed

Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.

- Advertisement -

Comments are closed.