Massive XRP Movement: 200 Million XRP Shifted from Anonymous Wallet to Ripple
CryptoNewsTerminal Staff01 Sep, 2024
Massive XRP Movement: 200 Million XRP Shifted from Anonymous Wallet to Ripple
200 million XRP, valued at over $110 million at the time of transfer, was moved from an anonymous wallet to a Ripple address, according to data from Whale Alert. The transaction was flagged on February 22, 2023, at 17:38 UTC. The source wallet has been linked to previous large XRP transactions, but its owner remains unknown. The destination wallet, on the other hand, is associated with Ripple, the company behind the XRP ecosystem. The purpose behind this significant transfer is unclear, but it has sparked speculation within the XRP community. Some believe it could be related to Ripple's On-Demand Liquidity (ODL) service, which utilizes XRP for cross-border payments. Others suggest it could be part of Ripple's efforts to distribute XRP to exchanges and market makers. Regardless of the reason, the movement of such a large amount of XRP is likely to impact the market in the coming days. XRP has been on a steady upward trend in recent weeks, and this transaction could further boost its momentum.
