Ripple Moves 40 Million XRP To Different Wallets; Crypto Watchers Speculate FUD to FOMO

  • Ripple made several transactions to different wallets
  • This generated different comments from the community

Ripple has transferred around 40 million in XRP to different wallets int he last few weeks. This is something that the community is talking about and wondering why these large transactions are taking place.

According to Whale Alert, a twitter account that tracks large blockchain transactions, there have been several noteworthy transfers between June 8 and June 9.

What Are These Large Transactions?

One of these transactions was from Ripple to another wallet in which the company transferred 20,000,000 XRP ($8,440,297 at the time of processing the transfer). The sender address was identified to be from Ripple: rffYK32pnicbmUvodKsLxTyQFJyEb23gaZ. Meanwhile, the receiver’s address was not identified but the address was rHJMEHv4eKhBCmjqDEJtFcvZTZC9q1K1s7.

Seconds after the transaction, Ripple sent again 20 million XRP to another wallet called XRP 11 wallet. This address is the following: rHjJwY4maqRyUxCnJ9bNNQ2Tva9fe9T8ud. This specific address was used to transfer the third largest digital currency to different exchanges, including Digifinex, HitBTC and also Huobi.

The crypto community is currently wondering whether Ripple is currently flooding the market or selling XRP to other parties interested in holding the virtual currency.

Currently, CoinMarketCap shows that Ripple is being traded around $0.398 and it has a market capitalization of $16.83 billion. In the last 24 hours, XRP is the digital currency that lost the largest value among the top 10, falling almost 4%.

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