Ripple's Blockchain Ledger Sees 150 Million XRP Coins Move in New Mega-Transaction

New Mega-Transaction Appears on XRP Ledger for 150 Million XRP

Most of the cryptocurrency industry has been either boring or bad. XRP, in particular, was seeing a little bit of a recovery period, though it was still only increased by a couple of cents. However, it seems that there’s a new post on the ledger that has attracted a lot of attention, which is about 150 million XRP.

On social media, the whole Ripple community is criticizing this transaction, providing guesses as to why the large transaction took place and discussing how to make sense of the destination address. To make the transaction more curious, the actual fee for the transaction isn’t even one cent.

Despite speculation, the XRP ledger claims to be separate from any influence that may have interfered with this transfer.

Ultimately, this transaction has sparked a conversation in Ripple that is riddled with disappointment and curiosity, wondering if XRP is just a way for Ripple to get money, rather than an opportunity for investors. They even question if the asset is being used to promote a better financial standing for the company.

On Twitter, XRPL Monitor made the following post about the transaction, which said:

  • Transaction Type: Payment
  • Amount: 150,000,000 XRP
  • Fee: 5,000 drops (0.005 XRP)
  • Sender: r9UUEXn3cx2seufBkDa8F86usfjWM6HiYp
  • Sender Balance: 800,000,199.868
  • Receiver: rBg2FuZT91C52Nny68houguJ4vt5x1o91m
  • Receiver Balance: 195,700,027.229249”

A link was also included with the post. Based on the information that they were given, some of the community believes that this interaction was performed by the founders. However, others believe that this transaction was the result of either Chris Larsen of Jeb McCaleb.

No matter who did it, it happened during a time when Ripple has been questioned lately about the ability for a single transaction to sway the whole platform.

When Ripple CEO Brad Garlinghouse spoke at the Swell 2018 event, he had to speak on the topic to make it clear to investors that Ripple remains completely decentralized. He also commented that the all of the negativity around XRP was due to the way that naysayers seem to be spreading rumors to bring the platform down.

When approached about whether Ripple XRP was centralized instead, Garlinghouse took the information a little further, saying that not even himself as the CEO has the power or administrative rights to impact the ledger.

Even with all of the commotion surrounding the Ripple Ledger and this particular transaction, many experts still believe that the XRP token is going to rise in price this year. This change might be credited to the many partnerships and new deals that Ripple XRP has struck with some of the top fintech firms.

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