đ¨ Ripple Moves 200 Million XRP â What's Going On? đ¨
A massive XRP transfer has sent shockwaves through the crypto community. Hereâs a breakdown of whatâs happening:
đ Whale Alert Spots Major XRP Movement
The popular blockchain tracker Whale Alert has detected a significant XRP transfer made by Ripple.
Amount transferred: A whopping 200 million XRP worth $109,416,737!
The XRP was sent to an unknown wallet, sparking a wave of speculation and excitement within the XRP community.
đ XRP Community's Response
đŹ The XRP community quickly reacted, with some users joking that Ripple might be selling XRP to cover its $125 million SEC fine.
đ However, the majority viewed this as a bullish signal for Ripple and XRP, suggesting that major moves could be on the horizon.
đ Whatâs Behind the Transfer?
Bithomp, an XRP explorer, revealed that the anonymous wallet receiving the 200 million XRP is affiliated with Ripple.
This raises two possibilities:
Ripple might be selling a large portion of XRP.
Alternatively, it could be sending the XRP to one of its customers, likely a financial institution.
đ More Whale Activity Detected
Prior to this massive transfer, Whale Alert tracked two other significant XRP withdrawals:
20 million XRP ($11M) from Upbit, a major South Korean exchange.
52 million XRP ($28M) from Bybit, based in Dubai.
đ¨ Is a Major Move Coming for Ripple?
These large transfers have caused speculation about Rippleâs next moves. Whether itâs selling to cover legal costs or transferring XRP to financial partners, the community is eager to see whatâs next for XRP.
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