XRPL Monitor Reveals Over 10 Million XRP Coins (Worth $4.5 Million) Sent to a Coinbase Pro Account
XRP data compiler, XRPL Monitor has recently been active on Twitter with updates regarding XRP token moves across different wallets. This seems to have occurred with other cryptocurrencies including Bitcoin [BTC] and Ethereum [ETH] as well, however, it’s the XRP token amounts that have had a shocking effect.
As per AMB Crypto’s reporting, on Tuesday, May 28, 2019, some 10 million XRP tokens have since been moved to a Coinbase Pro Account with as little as 20 drops, which is equivalent to 0.00002 XRP.
Transaction Type: Payment
Amount: 10,000,000 XRP
Fee: 12 drops (0.000012 XRP)
Sender Balance: 6,900.953592
Receiver Balance: 13,000,020.005266
— XRPL Monitor (@XRPL_Monitor) May 29, 2019
The news outlet further noted that the account in which said amounts originally belonged to, had an address of rH51tppA1cF5J75GS6MqaJhJQFm2PPXG2. Many crypto fanatics seem to have also expressed concern in said moves. Particularly, AMB Crypto referenced George Leithead, who was surprised to see a balance of 0, considering that there should be, “a minimum for all wallets (more for multi signature wallets).”
However, another XRP fanatic resolved the aforementioned concern by sharing the following:
“A wallet can go below the reserve if it’s the tx fee that takes it below that threshold. The account is still active in the sense other accounts interact, but it is no longer able to make txs itself until it is funded back over that reserve.”
At the time of writing, CoinMarketCap show XRP’s current value as being USD$0.445682 with a volume of USD$2,667,654,313.