Whale Alert, which tracks major cryptocurrency transactions, has detected several large transfers in a row of the seventh-largest cryptocurrency by market capitalization – XRP.
The crypto community has responded to these transfers with increased optimism.
Over 400 Million XRP Moved Mysteriously
According to the aforementioned data source, more than 400 million XRP was sent in five transfers, four of which were made consecutively between two blockchain addresses.
Three of those cryptocurrency blocks carried 95,000,000 XRP, worth $55,524,354 at the time of creation. The fourth block transferred 98,852,249 XRP, valued at $57,776,166. These large-scale XRP transactions were sent between wallets ending in -1h7Bn and -zSoQbF.
In total, $224.2 million in XRP was transferred in these four large transactions. They look like internal transactions of a platform or like a large crypto whale shuffling his XRP holdings. XRP enthusiasts in the comments section shared their excitement and optimistic views on these transactions.
A total of 17,230,000 XRP was transferred from an anonymous wallet to the Bitstamp exchange. The story here is different from the transactions mentioned above.
According to the Bithomp XRP explorer, this XRP block was sent to a major European exchange from a wallet linked to blockchain giant Ripple, possibly as part of the platform's partnership with international remittance project Ripple Payments.
Ripple Continues Testing RLUSD, Releases New Batches
Meanwhile, blockchain giant Ripple continues to test its dollar-pegged stablecoin, RLUSD.
As part of the experiment, Ripple issued two tranches of RLUSD, each consisting of 485 stablecoins, on September 24. Ripple also burned 50 RLUSD x2 in the Ripple Treasury, according to the “Ripple Stablecoin Tracker” account on the X platform.
Ripple has been testing its stablecoin since August, with plans to tap into this $2 trillion market, which is expected to grow to $2.8 trillion by 2028. Currently, the largest share of this market is occupied by the stablecoin USDT issued by Tether and USDC created and operated by Circle in partnership with Coinbase.
