Recently, Whale Alert, a service tracking large cryptocurrency transfers, noticed two significant XRP transfers amounting to almost $60 million. These events stirred conversations in the crypto community.
Major XRP Transfers
Over the past day, Whale Alert recorded two large XRP transfers: the first for 40,000,000 XRP and the second for 16,698,207 XRP. At current prices, these amounts equate to $131,081,333 and $55,279,692, respectively. The first transfer was made between anonymous wallets, while the second was sent to the largest US-based cryptocurrency exchange, Coinbase.
Community Reaction
The crypto community was actively discussing these transfers, with some users even suggesting the operations might be linked to money laundering. However, the analytics account @XRPwallets intervened to provide clarity on the nature of these transactions.
Transfer Analysis
Analysts clarified that the larger transfer of 40,000,000 XRP was conducted by Ripple itself, moving the funds to one of its wallets for external use: 'Ripple 50 to Ripple 50 subwallet for ETPs, Trust, and other investments.' The second transfer was also internal, taking place within the Coinbase exchange, where XRP was moved from one cold wallet to another.
These transfers highlight Ripple's operational strategy and management of cryptocurrency, sparking intense discussions among crypto community members.
