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**20 Million RLUSD Rapidly Moved, Flowing into the Market**
December 26, 2024 – 14:47
U.Today has learned about a significant transaction involving Ripple’s native token, XRP. A massive transfer of approximately 30 billion XRP (69,244,848 USD) was recorded on Coinbase, further fueling speculation and excitement within the cryptocurrency community.
Upon closer inspection, it appears that this transaction is not an external transfer, but rather an internal one initiated by a Coinbase wallet address affiliated with the exchange. According to Bithomp, a renowned XRP-focused explorer, the anonymous wallet responsible for the transfer is actually linked to Coinbase, making it an internal transaction within the platform.
While the true identity of the sender remains unknown, some market observers have speculated that this could be an attempt by Coinbase to stabilize the XRP market or inject liquidity into the trading pool. However, these speculations remain unsubstantiated and should not be taken as investment advice.
In related news, the XRP price responded to the transaction with a brief surge of 5.34% on Tuesday, only to lose most of those gains by the end of the day. At press time, XRP is trading at $2.6507, still up from its low points but far from its all-time highs.
As we head into a new year, it will be interesting to monitor market trends and developments surrounding Ripple’s native token. The sudden influx of liquidity could potentially set the stage for further price action in 2025.
This article is provided by Yuri Molchan
Source: u.today
