Ripple Decacorn Transfers 50 Million XRP, Price Rises Amidst Transaction

Ripple decacorn transfers 50 million XRP tokens, resulting in a price rise. Discover the details of this transaction and its impact on the market.

Posted 6 months ago in Blockchain

An image of a Ripple logo with XRP tokens in the background

Whale Alert, a crypto tracker, has reported that Ripple, the fintech decacorn, recently initiated a transaction transferring a massive 50,000,000 XRP tokens worth $25,657,347. The destination of this transaction was an unknown wallet, as disclosed by Whale Alert. However, it was later revealed that the recipient wallet also belonged to Ripple Labs. Subsequently, the receiving wallet distributed 130,000,000 million XRP to other wallets in three separate transactions, with each carrying 30,000,000 XRP and two transactions carrying 50,000,000 XRP each.

Earlier this week, Whale Alert also detected a significant withdrawal of 120,000,000 XRP from the South Korean crypto exchange Bithumb. However, it was determined that this transaction was an internal transfer between Bithumb's blockchain addresses, unrelated to Ripple.

Over the past week, the price of Ripple-affiliated XRP tokens has experienced a 4.65% increase, currently valued at $0.51286. This growth includes a 6.87% surge in price until Wednesday, September 20, followed by a subsequent decline.

Source: TradingView

Last updated 9/23/2023, 9:04:18 AM


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