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**BlackRock Sets XRP ETF Aside, But Why?**
A recent Whale Alert tweet caught attention as it revealed a massive transfer of 99 million XRP worth $234 million to the U.S.-based BitGo crypto exchange. This move has raised eyebrows among cryptocurrency enthusiasts and analysts alike, as it seems to contradict previous rumors about BlackRock’s XRP ETF. In this article, we will dive into the recent events surrounding Ripple and its flagship asset XRP.
As reported by Whale Alert, a massive amount of 234 million USD in XRP was transferred from an unknown wallet to BitGo, sparking speculations about potential institutional investment. However, this move might be more related to Ripple’s daily operations than any significant change in BlackRock’s plans regarding the XRP ETF.
Data analysis from Bithomp revealed that the source of this massive XRP transfer is actually a wallet affiliated with Ripple itself, rather than any institutional investor like BlackRock. This finding contradicts earlier speculations about a potential XRP ETF listing.
The last 24 hours have seen some significant price movements for XRP, which has gained around 22.8% and now trades at $2.36. It’s difficult to separate the impact of this recent transfer on the market from other factors such as the overall market sentiment and global economic trends.
Despite these events, it seems that Ripple is still moving large amounts of XRP, suggesting they might be focused on their own operations rather than seeking to list a new ETF with BlackRock.
Source: u.today
