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10,000,000 XRP moved as coin fails to record any major price movement



10,000,000 XRP moved as the native coin fails to record any major development
Source: Pixabay

Despite the larger cryptocurrency market recording sideways movement, movement of capital between users has continued to surge. One of the web’s major cryptocurrency transaction trackers, Whale Alert, shared the news of 10,000,000 XRP being transferred over its official Twitter handle. Whale Alert tweeted,

“10,000,000 #XRP [2,621,877 USD] transferred from Funding Wallet 1 to unknown wallet”

Ripple’s token, XRP, has been moving sideways, in line with the downtrend Bitcoin is facing. This transaction was carried out over Ripple blockchain for a transaction fee of 0.000012 XRP. The block height of the transaction was #49504399. The transaction was carried out in 12 drops between the funding wallet address rU1bPM4q2rVhC73F7znm7Lt5QnYzZsV35q and wallet address r4hZoYW8eEkTJMci6qFPGBxqxQfqyWyvB5, with a timestamp of 21:55:00 UTC on 21 August 2019.

Additionally, the hash for the transaction was D9BF424C76FF8AF01EEA9859EDFCB747F405330B93F10C598BF245D3A18CA94A. XRP recorded a dip of 0.251% over 24 hours, and was priced at $0.264 with a market cap of $11.342 billion, at press time. With the present transaction just one in a series of recent transactions, it is clear that XRP whales have come out of their slumber.  

Even with no major developments in the Ripple ecosystem recently, such significant whale movements are good news for the XRP community.

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Biraajmaan is a full-time journalist at AMBCrypto covering the US market. A graduate in Automobile engineering, he writes mainly about regulations and its impact with a focus on technological advancements in the crypto space.