💰 XRP Holds Key $2 Support as Ripple Sees Large Fund Flows

Despite an 8.2% drop against the dollar this week, Ripple’s XRP has remained above $2. Huge on-chain XRP transactions caught the attention of the crypto community over the weekend, and the network’s stablecoin RLUSD hit a market cap of $53 million.

XRP Trends: XRP is currently priced at $2.18, up 50.4% from 30 days ago. On Saturday, December 21, 30 million XRP, worth $70.89 million, was withdrawn from South Korea’s exchange Upbit. South Korea accounts for 22% of XRP trading volume.

Ripple initiated two major transactions, moving a total of 90 million XRP, with funds flowing into unknown wallets.

With a market cap of $53 million, RLUSD ranks 37th among stablecoins. There are currently 53 million RLUSD tokens on the Ethereum blockchain, with the Ripple Deployer wallet holding the vast majority.

Major Holders: B2C2 Group, an unknown wallet, Uphold, and Bitso are the major holders.