Massive Transactions of 392 Million and 463 Million XRP Coins Processed by Ripple’s XRP Ledger


The XRP Ledger has processed new massive transactions. According to the Twitter account XRPL Monitor, the Ripple Ledger processed more than 500 million XRP in just a few minutes for less than $0.01.

These were two transactions registered by the network. The first one was labeled as payment for 463,420,929.99 XRP. This transaction had a fee of 500 drops, equal to 0.0005 XRP. The sender was Ripple and the receiver was this wallet:

rKUy1Ew9VrA8YNm5ArgKup2E6iAwE1iMyC.

Just nine minutes later, the network registered another large transaction that Ripple sent to a different wallet (rUEchj8k8jvVXKGhfVYvrs5ntVEtc5F2hK). This transaction was smaller than the first one. Ripple sent 392,834,642.66 XRP and was also labeled as a payment. The sender balance is 4,123,164,791.26959 XRP, meaning that this account had around 4% of all the XRP ever issued.

This transaction has also been processed for 500 drops. Between both payments, the amount of XRP processed by the network was 856.255.572,65. Almost 1% of the whole XRP supply was moved in just these two transactions.

As we wrote in the past, the Ripple Ledger has experienced similar large transactions. What does it mean? It can probably be related to a change in the wallets they have to secure their assets. Nevertheless, this is nothing confirmed. Other pessimistic crypto enthusiasts might think that Ripple could soon dump these coins as the market continues to fall.

At the time of writing this article, XRP remains the second largest digital asset after Bitcoin (BTC) with a market capitalization of $11.96 billion. Each XRP coin can be purchased for $0.29. In the last 24 hours, XRP fell 6.60% in tandem with most of the virtual currencies in the market.

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