- Details of Large XRP Transfers
- Community Reaction and Further Actions
- XRP Price Performance
The cryptocurrency tracking service Whale Alert has reported several significant XRP transfers over the last 24 hours.
Details of Large XRP Transfers
According to Whale Alert, four large XRP transfers were recorded over the last 24 hours, totaling 187 million tokens. The largest transfer was conducted by Ripple Labs and involved 100,000,000 XRP worth $54,594,473. This transfer was directed to an anonymous blockchain address, but data from Bithomp confirmed that it was an internal transaction from Ripple to one of its own wallets. Another major transfer involved the withdrawal of 31,126,439 XRP worth $16,908,702 by an anonymous user. The remaining two transfers of 29,100,000 and 26,830,000 XRP were sent to major exchanges Bitso and Bitstamp, based in Mexico and Europe respectively.
Community Reaction and Further Actions
The XRP community expressed concerns about the purpose of Ripple allegedly selling such a large amount of XRP. Despite the anonymous nature of the transfer, Bithomp data confirmed that wallets initiating these transfers belonged to Ripple, while Bitso and Bitstamp are platforms collaborating with the cryptocurrency giant to run the Ripple Payments feature using XRP tokens. A day earlier, Whale Alert detected another sizable transaction of 105,000,000 XRP carried out between two unknown crypto whales.
XRP Price Performance
In the past week, XRP, the seventh-largest cryptocurrency by market capitalization, saw a 13.34% decline, dropping from $0.62 to $0.54. In the past 24 hours, the price fell by an additional 3.45%, but the coin managed to partly recover by growing 1.7%.
The current large XRP transfers and price volatility are causing concern among the community. It is essential to monitor the actions of major players to understand market trends and forecast future changes.
