Ripple has made a massive move, transferring a whopping 580 million XRP tokens in a mysterious transaction that's left the market stunned.¹ This enormous transfer is valued at around $1.4 billion, considering the current price of XRP.
The transaction was tracked by Whale Alert, a popular blockchain tracking service. According to the data, the 580 million XRP tokens were moved from Ripple's wallet to an unknown address. What's interesting is that this transfer is part of a larger movement of 640 million XRP tokens that occurred within a 12-hour window.
This mysterious transfer has sparked speculation within the crypto community, with some wondering if it's related to Ripple's recent regulatory approval for its stablecoin, Ripple USD (RLUSD).² Others are simply waiting to see how this massive transfer will impact the price of XRP.
As of now, XRP's price has surged by 25.74% over the past two days, reaching $2.24. Whether this mysterious transfer will continue to drive up the price remains to be seen. One thing's for sure, though - the crypto market is always full of surprises!
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