Ripple has shifted 100 million to an anonymous wallet with whales transferring almost twice as much
According to a recent tweet published by Blockchain Tracker whale alertIn the last fifteen hours, around 288 million XRP has been transferred with the participation of the crypto giant Ripple.
Several transfers was made, carrying $142.8 million worth of Ripple-affiliated XRP coins.
288 million XRP transferred with the participation of Ripple
Whale Alert detected seven massive transactions involving nearly three hundred million XRP. The largest one was created by Ripple, the destination being an “unknown” wallet. This turned out to be an additional address related to Ripple – RL18-VN, which is commonly used to send crypto beyond Ripple – to crypto exchanges, charities, company customers or to sell XRP to cover daily operating expenses. For.
Every month, on the first day, Ripple releases a staggering billion XRP from escrow to support the coin’s liquidity on exchanges. However, after that 700 or 800 million tokens gets locked back in escrow to be released another time in the future.
Another 188 million XRP was transferred by whales between major crypto exchanges. These include Bitstamp, Bittrex, BitGo and CoinsPH.
Bitstamp participated in every transaction apart from the one initiated by Ripple Labs.
XRP is one of the most popular digital currencies, so whales have been quite active over the past two months selling this asset at higher levels on exchanges.
XRP jumps 12 percent briefly
On November 4, XRP demonstrated a price surge by nearly 12 percent, jumping from $0.4549 to the $0.5066 level, the surge was likely propelled by bulls.
So far, the coin’s price has started to decline and is down 2.21 percent, changing hands to $0.049517.
Overall, Ripple is doing relatively well regarding the lawsuit against the SEC. Recently, 12 companies have filed for a permission to submit amicus briefs in its support. Among these companies is the biggest US-based exchange Coinbase.
