In recent days, there have been significant transactions involving the cryptocurrency XRP, owned by Ripple, coinciding with price changes in this digital currency.
XRP Transaction by Ripple
The analytics platform Whale Alert reported on yet another large XRP transaction. On July 21, a total of 200,000,005 XRP was sent from one anonymous wallet, equivalent to approximately $700.6 million at the time of the transaction. Commentators have suggested that this might indicate large holders taking profits.
XRP Price Drop
Amid these transactions, the price of XRP has dropped by 5% after reaching a high of $3.65. Following this peak, the price fluctuated and currently stands at around $3.46, confirming trends in the cryptocurrency market.
Analyst Opinions on Large Transfers
Analysts tracking XRP movements explained that this transfer was executed by Ripple from a wallet activated in 2020. The entire amount was shifted to a new wallet, also created by Ripple. It was noted that two similar transactions occurred earlier, raising curiosity about the reasons behind such actions. The team under the handle @XRPwallets stated that they will be monitoring the further movements of these funds.
The large XRP transactions by Ripple and the price fluctuations highlight ongoing activity and interest in this asset in the market, as well as draw attention to potential future movements of this cryptocurrency.
