HomeNewsTransfer of 100,000,000 XRP Whale Tokens Sparks Speculation on Ripple: Is a...

Transfer of 100,000,000 XRP Whale Tokens Sparks Speculation on Ripple: Is a Massive Sell-Off Looming?

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  • Recent XRP activities include large movements by Ripple and whale transfers to major exchanges.
  • Ripple’s David Schwartz assures that the company maintains a high level of transparency in XRP sales.

A sizable transfer of 100 million XRP has generated speculation about Ripple’s involvement, given the context of market volatility and statements by the company’s CTO about transparency.

Records on the blockchain indicate that this movement of funds, equivalent to approximately $53,477,708, took place today at 04:06 AM (UTC).

The addresses of both the sender and receiver are marked as unknown, which has led to curiosity about their identity. Although unconfirmed, data points to a possible connection to Ripple, the San Francisco-based blockchain payments firm.

Transaction Details

Investigation of the addresses involved shows that the receiving address, being new, registered this transaction as its second transaction, the first also being a transfer from the same sender. As for the sender, although also a new address, it has shown more activity compared to the receiver.

The issuer’s transaction history shows only six previous transactions, including the receipt of 12 XRP from Ripple, suggesting a possible relationship with the company. However, without an official statement from Ripple, this link cannot be confirmed.

Inaddition to this recent move, XRP has seen other activity from large investors. Ripple has moved large amounts of XRP for sales and to serve its payment customers.

Last month, the company moved 130 million XRP. In addition, according to Whale Alert, an unidentified whale transferred 28.8 million XRP to the Bitstamp exchange, which has sparked debate about the intentions behind this activity.

XRP sales by Ripple

David Schwartz, Ripple’s Chief Technology Officer, recently spoke about the company’s XRP sales. In the context of discussions about transparency, Schwartz explained that if Ripple wanted to hide its XRP transactions, it would choose to conduct them through less transparent exchanges and not on the public ledger.

Schwartz stated that Ripple has always been transparent in its XRP trading, something that is reflected in the company’s quarterly sales reports. In the past 24 hours, XRP has experienced positive price movement, rising from $0.5323 to $0.541, representing a 1.3% increase.

Recent analysis has shed light on the growth of high-value investors in XRP, especially highlighting the activities of larger investors. Portfolios holding between 10 million and 100 million XRP have increased their holdings, particularly following a recent drop in the price of XRP.

In addition, last week, whales acquired 31 million XRP, worth approximately $17 million. Following this transaction, the price of the cryptocurrency experienced an increase, indicating the significant impact of these transactions on the market.

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Isai Alexei
Isai Alexei
As a content creator, Isai Alexei holds a degree in Marketing, providing a solid foundation for the exploration of technology and finance. Isai's journey into the crypto space began during academic years, where the transformative potential of blockchain technology was initially grasped. Intrigued, Isai delved deeper, ultimately making the inaugural cryptocurrency investment in Bitcoin. Witnessing the evolution of the crypto landscape has been both exciting and educational. Ethereum, with its smart contract capabilities, stands out as Isai's favorite, reflecting a genuine enthusiasm for cutting-edge web3 technologies. Business Email: info@ethnews.com Phone: +49 160 92211628