Payment giant Ripple shuffled 200 million XRP between wallets, sparking speculation within the community.
as reported According to market tracking resource Whale Alert, the transaction involved a wallet tied to Ripple, and the recipient's address was listed as unknown to tracking platforms. Sending ripple addressrBg2Fu“We transferred 200 million XRP, worth $109 million at the time, to the receiving address.”rP4X2h” until 20:28 UTC on Monday.
transaction analysis
Data from Bithomp shows that the two addresses have repeatedly shuffled XRP in the past. In particular, receiving addresses that Whale Alert tagged as unknown wallets often received funds from sending addresses and shuffled them to other wallets.
For context, a sending address with a Ripple label transferred On September 23rd, 200 million XRP was sent to the receiving address, with a value at the time equivalent to $117.6 million. This occurred 10 days after the sending address moved 150 million XRP to the same address.
According to the data, the receiving address is also affiliated with Ripple, and its activities have caused concern among the XRP community. In particular, receiving addresses have always been used as a medium for Ripple to move XRP to external wallets, especially exchanges.
For example, on October 8th, your wallet will transferred 100 million XRP was sent to dumping wallets, and the assets were then moved to exchanges such as Bitstamp and Bitso. This address also conducted similar transactions on September 19th. On the move 100 million XRP in sales wallet.
Meanwhile, the wallet still holds the 200 million XRP it received on Monday. As of this writing, the wallet holds 254.4 million XRP (worth $138 million).
XRP market reaction
Despite widespread skepticism in the post-transfer community, XRP remains largely unperturbed. The seventh-largest crypto asset by market capitalization has corrected less than 1% in the past 24 hours, trading at $0.544 at the time of writing after reversing from yesterday's high of $0.56.
Notably, despite the prevailing bullish mood in the crypto market, XRP has fallen 9% over the past month. For context, Bitcoin and Shiba Inu They rose 7.30% and 26% respectively in the same time frame.
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