The post Ripple Makes Mysterious 90 Million XRP Transfer: What’s Going On? appeared on BitcoinEthereumNews.com.

Cover image via www.freepik.com Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. According to on-chain data, Ripple has transferred a significant amount of XRP to unknown wallets, attracting interest from the cryptocurrency community. According to blockchain data tracker Whale Alert, Ripple shifted a total of 90 million XRP in two separate transactions within the last 24 hours. The first transaction involved the transfer of 50 million XRP, worth around $111,697,462, moved by Ripple to another unknown wallet. Shortly after, a second transaction saw 40 million XRP, valued at $89,678,944, sent from Ripple to an unknown wallet. Related Interestingly, these transactions come amid a period of increased volatility in the market. XRP is holding steady above key support levels, following the massive sell-off in the past week. At the time of writing, XRP’s price was up 2.12% in the last 24 hours to $2.27, recovering from earlier losses amid broader investors’ caution toward risk assets. XRP dipped to lows of $2.17 in Sunday’s session before slightly recovering to highs of $2.29. Despite the recent market sell-off, XRP remains up 266% yearly. What’s going on? While the exact reasons behind Ripple’s 90 million XRP transfer are unknown, large-scale transfers often present a few potential scenarios. Such movements may be related to routine liquidity operations or preparations for on-demand liquidity (ODL) services. Another possibility is wallet restructuring or internal fund management. Large…

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Filed under: News - @ December 22, 2024 3:13 pm