Whispers from the Cryptocurrency Sphere: Unfolding Developments Surrounding XRP and Ripple

BlackRock Sets XRP ETF Aside, Here’s What’s Really Going On

A recent update by Whale Alert revealed a massive transfer of 234 million USD worth of XRP from an unknown wallet to another unknown wallet. However, further investigation showed that the source of this enormous transaction was actually affiliated with Ripple, the blockchain heavyweight. The funds were sent to Bitgo, a US-based crypto exchange and custodial platform for financial institutions.

But wait, there’s more! A day before this mammoth transfer, Bithomp, a data provider, disclosed information about two massive transfers of XRP by Ripple. These transactions consisted of 380 million and 200 million XRP, which would be equivalent to roughly $1.5 billion in fiat currency.

It is worth noting that XRP has experienced significant growth over the past week, with its price increasing by around 22.8%. The current trading value stands at $2.36.

While this sudden influx of funds may cause alarm, it’s essential to recognize that Ripple, a company closely tied to the development of the XRP blockchain, continues to maintain a consistent track record in large-scale transactions.

Source: u.today