Ripple's Mysterious Cash-Out of 60,000,000 XRP, Price Rises 10%, Shocking the Market

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The renowned tracking platform Whale Alert monitors large cryptocurrency transfers and has spread the news about a mysterious large flow of XRP discovered in the past 24 hours. Details shared by an XRP-focused explorer show that this transfer, valued at over $100 million, was made with the involvement of Ripple's giants. Meanwhile, the price of XRP surged by about 10% overnight. Currently, XRP is trading at $2.44. 60,000,000 XRP is being transferred—where did it come from, and where is it going? Whale Alert revealed an impressive transaction of 60,000,000 XRP that was transferred from one anonymous wallet to another. At the time of the transaction, the value of this XRP block was $144,669,520.

Details from Bithomp show that this transfer was initiated by a wallet under the blockchain giant Ripple, headquartered in San Francisco. The wallet transferred to an anonymous wallet, which has received two batches of XRP, each consisting of 15,000,000 XRP, since December 9.

As reported earlier by U.Today, Ripple similarly transferred 99,000,000 XRP using an anonymous wallet last Friday, shocking the XRP community with two transactions totaling over 500 million XRP—380 million and 200 million XRP.

Ripple minted 13 million RLUSD before the official release. Earlier this week, Ripple minted two large batches of new crypto products—Ripple USD stablecoin, which recently received official approval from the New York State Department of Financial Services (NYDFS) for listing and trading on cryptocurrency exchanges. Shortly after, Ripple CEO Brad Garlinghouse stated that this stablecoin would soon hit the market. According to U.Today, on December 13, the Ripple USD treasury minted 10,399,000 and 2,600,000 RLUSD. Ripple first announced the development of this new product in March of this year. In August, the company announced they began closed testing for the product. In the fall, news surfaced that RLUSD would be launched on the XRP Ledger and Ethereum, and recently, Tron founder Justin Sun hinted that RLUSD may also appear on his blockchain in the near future.