Ripple moves $144M worth of XRP mysteriously as prices climb 10%, sparking speculation about the blockchain giant’s intentions.
Ripple Moves Millions of XRP Amid Price Surge
Ripple has executed a 60,000,000 XRP transaction as the cryptocurrency’s price climbed 10% overnight. Prominent tracker Whale Alert reported this significant XRP transfer, valued at $144,669,520. This development follows Ripple’s history of substantial movements, stirring speculation across the XRP community.
Details of the 60M XRP Transfer
The massive transaction saw XRP moved from an anonymous wallet linked to Ripple to another unknown wallet. Blockchain explorer Bithomp confirmed the transaction’s origins tied to Ripple, based in San Francisco. Notably, this anonymous wallet recently received two 15M XRP batches, adding intrigue to Ripple’s strategy.
🚨 🚨 🚨 🚨 🚨 🚨 60,000,000 #XRP (144,669,520 USD) transferred from unknown wallet to unknown wallet whale-alert.io/transaction/ri…
Ripple’s History of Large XRP Transactions
This isn’t Ripple’s first notable move; last Friday, it transferred 99,000,000 XRP in two transactions. According to earlier reports, these transactions, cumulatively exceeding half a billion XRP, captured attention. Such activities underline Ripple’s dominance and raise questions about its market approach.
Ripple’s Stablecoin Minting Gains Momentum
Ripple also minted 13 million RLUSD, its stablecoin product, approved for trading in New York. The minting process involved two batches of 10,399,000 and 2,600,000 RLUSD on December 13. Ripple CEO Brad Garlinghouse indicated the stablecoin would debut soon, marking another milestone for the company.
RLUSD Set to Expand Across Multiple Blockchains
RLUSD is slated for release on XRP Ledger, Ethereum, and potentially TRON, according to recent developments. This multi-blockchain approach reflects Ripple’s innovation in the $200 billion stablecoin market, which analysts expect to reach $2.8 trillion by 2028. Ripple’s latest moves could shape the sector’s future.
Speculation Rises Around Ripple’s Intentions
Ripple’s mysterious XRP moves and its stablecoin efforts show its expanding influence and strategy. Observers remain curious about Ripple’s large transfers and the implications for XRP’s price and market standing. Its recent actions continue to drive attention and debate within the cryptocurrency space.
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