XRP Whale Alert: Ripple Exchange Wallet Trades Over 9 Billion Tokens
The crypto market is so mesmerized by rise in the price of Bitcoin (BTC) that some people are not paying attention in some other important factors which can also be very important for the market. For instance, today several large transactions were made using Ripple’s XRP.
These transactions were spotted by the ever attentious Whale Alert profile. According to the Twitter profile, 14 XRP transfers were made from the official Ripple wallet to several unknown wallets, which shows how active Ripple is right now.
Out of the 14 transactions, only two of them were sent out to other Ripple wallets and 12 of them were sent to unknown wallets. The profile also highlighted that some of the addresses were the same that the company sent some funds before.
A total of over 9 billion XRP tokens (almost 4 billion USD) was sent out in these transactions, which clearly shows that the amount of tokens being moved around is currentyl far from negligible. This amount of money includes the fees which were paid. Some of them were over 1,000 XRP tokens, meaning that these were, in fact, very high fees, normal with such large transactions.
Some wallets that received the tokens were reported to be activated just some time before they received the funds from the other wallets, meaning that some of them were actually new wallets which seemed to be created with the specific purpose of receiving these funds.
What Does This Mean For Ripple?
As soon as the movement was spotted, many people started to ask what was going on. These are consderably large numbers, so it picked the interest of many investors using social media during the day of the transactions.
Some people have considered that Ripple may be dumping these funds. This theory is based on the fact that the prices of XRP tokens have not been raised a lot during the month, as they are somewhat stagnated while the price of other assets such as Bitcoin has gone up with time.
Other people have complained that it is “stupid” to say that Ripple is dumping tokens because it is a big organization and it is expected that they will eventually sent out tokens to investors who are interested in them.
The truth is that nobody is sure, so we have to wait for the next moves made by the company in order to actually be able to determine what is going to happen in the future.