Massive Ripple Whale movement Triggered XRP Price To $0.53
Crypto payment solution Ripple moved a significant amount of XRP. The notable computerized tracker of a major crypto movement, Whale Alert, featured the exchange in a tweet.
Whale Alert particularly informed the crypto community that Ripple had moved 31,000,000 (31 million) XRP to an obscure wallet. The assets had a market worth of $16,530,182 ($16.5 million) at the hour of the movement.
🚨 31,000,000 #XRP (16,530,182 USD) transferred from #Ripple to unknown wallethttps://t.co/TAStNyDnyr
— Whale Alert (@whale_alert) August 30, 2023
This critical XRP move has the crypto community pondering its intention. “Is this the normal end-of-month transfer for Ripple?” a crypto lover inquired.
It is worth noting that the transaction isn’t the actual Ripple’s month-to-month XRP unlock, as the firm commonly opens XRP from escrow on the first day of every month. Whale Alert frequently explicitly states if a huge XRP movement was an unlock from Ripple’s escrow account.
Transferring To a Discreet Wallet By Ripple
While Whale Alert noticed that the beneficiary was an anonymous wallet, one of the community enthusiasts suggested that the transfer was to another Ripple-controlled wallet. He added that the Receiving address likewise has a recent XRP transaction to Coinbase.
A fast outline of the obscure wallet’s exchange history suggested its relationship with Ripple. As indicated by the explorer, the obscure wallet got a huge volume of XRP at about a similar time on a monthly basis.
Its last 30 transactions show it got 20 to 60 million XRP from Ripple between the 27th and 30th for the past eight months.
Similar Whale Movement To Bitstamp By XRP
Also, Whale Alert caught a comparatively essential XRP movement from an obscure wallet to a crypto exchange. Specifically, a whale moved 27,600,000 (27.6 million) XRP to Bitstamp. The moved asset is valued at $14,860,623.
This new XRP move to Bitstamp addresses the third whale movement to the trade in three days. In total, Bitstamp has gotten 85,200,000 XRP from obscure wallets between August 27 and 29
Read Also: Ripple Whales Move Almost 1 Billion XRP Following The SVB Exposure
Until these XRP movements around Ripple and Bitstamp, it was revealed that in August whales moved 1.7 billion XRP. The new 116.2 million XRP movement has taken the all out to 1.85 billion XRP.
As of now, XRP has grown somewhat by 3%, putting its cost at $0.5309. Its 24-hour trading volume grew fundamentally by 104.16% to $1.56 billion. This development comes in the midst of a huge court battle affecting the cost of Bitcoin.
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Meet Daniel Abang: Crypto guru, content creator, and analyst. With a deep understanding of blockchain, he simplifies complex concepts, guiding audiences through the ever-changing crypto landscape. Trusted for his insightful analysis, Daniel is the go-to source for staying informed and empowered in the world of cryptocurrency.
