In a jaw-dropping turn of events, over 570 million $XRP were transferred within a single hour, according to Whale Alert, a major blockchain tracking platform. These transactions, which include a staggering 470 million $XRP moved by Ripple, have the crypto community buzzing with speculation.
The Details 🧐
Two Major Transfers: One transaction of 100 million XRP (worth $53.27 million) was moved between unknown wallets, while 470 million $XRP (valued at $250.45 million) was transferred by Ripple to an anonymous address, later linked back to Ripple by Bithomp.
Ripple’s Motive?: While the exact purpose remains unclear, Ripple frequently conducts large transactions for XRP sales to fund operations and legal expenses related to its ongoing battle with the SEC.
XRP Price Surge 📈
This wave of XRP movement comes amidst a significant 10% price surge, as XRP touched $0.57825 before experiencing a slight 4% pullback, now trading at $0.55601 on major exchanges like Bitstamp.
Bitcoin’s ATH and Market Impact 🚀
These XRP transactions align with Bitcoin’s impressive rally, which set a new all-time high of $76,460 following major political changes in the U.S. The entire crypto market has felt the ripple effect, with many assets following suit in strong upward trends.
💬 What do you think is behind Ripple's massive XRP transfer? Could this signal more market moves ahead?
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