Today, Whale Alert reported a large transfer of 150 million XRP between two addresses, which caught the attention of the cryptocurrency community. One of the addresses used in the deal is still unknown, but the other belongs to Ripple.
According to on-chain data supplied by Bithomp, the recipient address “rP4X2h,” linked to the alleged Ripple wallet, was first used to send 70 million Ripple in 2023. The address already had 103.4 million Ripple in it before this latest transaction. Not long after getting an extra 200 million tokens, 50 million Ripple were quickly sent to an unknown address called “rhWt2bh.”
XRP Wallet Ownership Speculation And Price Volatility
There is some discuss about who owns the address because of the link to Ripple and the large size of the wallet. There is no way to tell if this address belongs to Ripple or one of its partners. A lot of XRP has been moving around, which has made people wonder if Ripple is just moving its assets around or getting ready to sell them.
This week, the price of Ripple has been all over the place. The cryptocurrency went through a correction after a positive jump at the start of the week. But the price has partly come back since then. The price of XRP is trading in an area that some experts see as risky right now, July 9, 2024. Different sources may give you a different price for XRP, but it is clear that it has lost some of the value it gained at first.
Does this address belong to Ripple or one of its partners? It is linked to the company, and the wallet is big. Without an idea of how much the coin will be worth, it doesn’t matter if Ripple moves Ripple from one place to another or sells it.
