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Whales Relocate About $500 Million in XRP in 12 Hours in a Snap

Gaurav Roy by Gaurav Roy
September 8, 2021
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California, USA – XRP whales transferred almost half a billion of XRP in 12 hours, since Friday to Saturday, as per Whale Alert. The transfer was when an anonymous investor moved 218,682,480 XRP, which is worth over $280 million.

XRP whales moved about $500 million worth in 12 hours. The transfer was from Friday until Saturday, and the transaction was as per a crypto tracker, Whale Alert. It’s the biggest single traction in the whale spree during the weekend, and it was after an anonymous investor transferred 218,682,480 XRP.

Aside from that, XRP traders experienced a boosting activity from Ripple after sending 65,000,000 XRP in three different transactions. Ripple has half of the 100 billion XRP, and it moved 40,000 XRP, which amounted to $51 million to the anonymous wallet.

There were relocations as well to another anon wallet worth 15,000,000 XRP. Also, 10,000,000 XRP are transferred to a third crypto wallet, which has an unknown origin. There’s another unknown transaction worth 70,000,000 XRP. Lastly, a big entity moved 20,000,000 XRP from Bittrex, a crypto exchange,

On another note, the XRP price dropped by 10%, trading at $1.23, and it recorded the biggest loss in one day. The movement moved the market capitalization of this digital asset to $59.27177B from its highest, which is at $83.44071B.

Whales Relocate About 500 Million in XRP in 12 Hours in a Snap
XRP drops by 10%, and crypto traders notice transfers to different crypto wallets.

This cryptocurrency traded in the range of $1.23230 to $1.39191, and in the previous week, there was a boost in its value after gaining 11%. Before its trading price now, it used to trade at $1.15 to $1.40 in recent weeks. Nonetheless, the volume in the past 24 hours was $6.94029B.

Despite the rally, XRP is still below its all-time high price of $3.29, which is the price where it began since Ripple introduced it in the crypto market.

As for Bitcoin or BTC traded at $49,872.1 at a market capitalization of $947.19395B, while Ethereum traded at $3,634.96 at a market capitalization of $437,71451B.

gaurav roy xrp news | XRP & Ripple News
Gaurav Roy
Tags: crypto assetcrypto marketcrypto tradercrypto tradingcryptocurrencydigital assetsinvestormarket capitalizationresistanceRipplesupportwhales
Gaurav Roy

Gaurav Roy

Gaurav is an expert when it comes to Cryptocurrency, writing for some of the biggest Cryptocurrency websites out there.

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XRP News – Keeping You Up To Date With All Things XRP & Ripple

In the rapidly evolving world of digital finance, XRP stands out as a pioneering force, reshaping the landscape of cryptocurrency and blockchain technology. As a core product of Ripple Labs, XRP is not just a digital currency; it’s a breakthrough in how we perceive and engage with global financial transactions. This article delves into the essence of XRP, exploring its distinctive features and the reasons behind its growing popularity.

Unmatched Transaction Speed

One of the most compelling attributes of XRP is its unparalleled transaction speed. In a world where traditional banking can take days to process cross-border payments, XRP offers a stark contrast with its ability to settle transactions in mere seconds. This efficiency is a game-changer for both individuals and businesses, ensuring that funds are transferred quickly and seamlessly around the globe.

Low Transaction Costs

Another significant advantage of XRP is its incredibly low transaction fees. Compared to other major cryptocurrencies and traditional banking methods, XRP stands out for its cost-effectiveness. This feature makes it an attractive option for micropayments and regular international transfers, offering a more affordable solution for everyday transactions.

Scalability and Sustainability

Scalability is a critical factor in the cryptocurrency world, and XRP excels in this aspect. Designed to handle a large volume of transactions without compromising speed or cost, XRP is well-equipped to meet the demands of a growing digital economy. Additionally, its consensus protocol is less energy-intensive than the traditional proof-of-work used by many cryptocurrencies, making XRP a more environmentally sustainable choice.

Broadening Financial Access

XRP is not just a tool for efficient transactions; it’s a catalyst for financial inclusion. By simplifying and reducing the cost of cross-border payments, XRP has the potential to open up global markets to individuals and businesses who previously found these transactions prohibitively expensive or complex. This democratization of financial services is a cornerstone of XRP’s vision.

The Ripple Effect

Ripple Labs, the company behind XRP, is continually expanding its partnerships with financial institutions worldwide. These collaborations are not only a testament to the reliability and practicality of XRP but also a driver for its adoption in mainstream finance. As more banks and payment providers integrate XRP into their systems, its impact and relevance continue to grow.

A Community of Innovators

The XRP community is a vibrant and dynamic force, comprising developers, entrepreneurs, and enthusiasts. This community is at the forefront of exploring new use cases for XRP, pushing the boundaries of what’s possible in the realms of digital payments and blockchain technology.

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