$738,134,962 XRP Transferred by Ripple, Here’s Surprising Destination

Prominent blockchain sleuth Whale Alert, which monitors large cryptocurrency transfers and then shares their details on its website and X account, has spread the word about an astounding XRP chunk moved roughly three hours ago.

An astonishing amount of close to one billion dollars in XRP was transferred from one anonymous wallet to another. However, additional on-chain data has identified both the sender and the receiver of this enormous transaction.

210,669,117 XRP on the move

The above-mentioned on-chain data source spotted a mammoth-sized transaction of 210,669,117 XRP made between two unknown wallets. This amount of XRP was valued at $738,134,962 at the time of the initiated transfer.

This Whale Alert post on the X social media platform sparked a hot discussion within the XRP army who were astounded to see such a tremendous amount of their favorite cryptocurrency transferred in a single move. Speculation was raised as to the nature of this transaction and the identities behind the sender and the receiver of this mammoth XRP lump.

However, an analytics X account @XRPwallets focused on XRP data revealed in a recent post that it is the Ripple blockchain behemoth that stands behind this transfer as both the sending and the receiving wallets are linked to this company.

“Ripple to Ripple. Activated June 2022 from a Ripple subwallet, now sent to a new Ripple subwallet,” the tweet says.

XRP comes really close to 2018 ATH

At the end of last week, the third-largest cryptocurrency, XRP, demonstrated a staggering 20% price jump within just 24 hours as it soared from $3.02 to $3.65 local high. That was really close to the all-time price peak in the $3.85 range reached by XRP in January 2018.

The price jump occurred in the wake of the XRP ETF launch and was also influenced by the official signing of the Genesis Act by US President Trump. This law regulates the issuance, use, and circulation of stablecoins, particularly in the payments sphere. This directly impacts Ripple’s latest product – the RLUSD stablecoin.

By Sunday, XRP rolled back by 5.72% and has added a small 3.33% increase by now. At the time of this writing, XRP is changing hands at $$3.56 per token.