Ripple Makes Massive $682 Million XRP Transfer
The post Ripple Makes Massive $682 Million XRP Transfer appeared on BitcoinEthereumNews.com.
According to data provided by Whale Alert, a popular service that tracks abnormally large cryptocurrency transactions, San Francisco-based enterprise blockchain company Ripple recently sent a total of $682 million worth of XRP to an unknown wallet. This is the first major transfer conducted by the company since Dec. 21. Back then, it sent more than $200 million XRP within two transactions. The most recent transfer dwarfs the amount of XRP the company sent throughout the entire month of December. As reported by U.Today, Ripple CEO Brad Garlinghouse recently confirmed that the company owned more than $100 billion worth of XRP tokens. This, according to the prominent executive, should be taken into account when determining the valuation of the private company. XRP’s rally stalls The Ripple-affiliated token stole the show in the fourth quarter of 2024 with its tremendous gains that allowed Ripple co-founder Chris Larsen to add $6 billion to his net worth in less than two months. However, the high-flying token has so far struggled to revive this rally in early 2025. This is mostly due to the weakness of the broader cryptocurrency market caused by Bitcoin’s underperformance. According to CoinGecko data, XRP is currently trading at $2.30 after declining by more than 6% over the past 24 hours. 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. Source: https://u.today/ripple-makes-massive-682-million-xrp-transfer
Filed under: News - @ January 10, 2025 6:18 am