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100,000,000 XRP moved as Bitcoin surges past $12,000 mark

Matthew Chan

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100,000,000 XRP moved as Bitcoin maintains position above $12,000 mark
Source: Pixabay


Over the past six hours, the world’s largest cryptocurrency surged past the $12,000 resistance, climbing by over 4% in 2 hours. This movement came as an opportunity for traders to generate capital from their digital assets. Many transactions were thus recorded between a few wallets too.

Whale Alert, one of the web’s major cryptocurrency transaction trackers, shared about the news about the transfer of 100,000,000 XRP over its official Twitter handle. Whale Alert tweeted,

“🚨 🚨 🚨 100,000,000 #XRP (31,625,197 USD) transferred from unknown wallet to unknown wallet.”

The transaction was done in 10 drops from wallet address rs8EfRvaQ71vmxfsyh3S16oWxVkrm8eu1m to wallet address rB4UtU9sAiMTF5Htg3k6kwUXV2dHyRFkJn, with a timestamp of 03:32:21 UTC on 6 August 2019. Also, the hash for the transaction was D09FBF5AF105ACC47A9FF377DC1B62BF6C67A4ADF1BF83381BDA6598F5C3558D.

This transaction was carried out over Ripple blockchain for a transaction fee of 0.00001 XRP. The block height of the transaction was #49150544 and it was deemed a successful one.

The transfer of such significant amounts of XRP over the blockchain came as no surprise since it was in line with the bullish market movement. However, it is also a recent development for the larger XRP community.

The present movement of funds follows a similar transfer from yesterday, a transfer where XRP worth over $100 million were moved between unknown wallets, on the back of the king coin surging by 10%. These transfers followed MoneyGram confirming the use of XRP for facilitating cross-border payments in its Q2 report.

The timing here is peculiar. While XRP is yet to register any very significant price movements in 2019, despite Ripple’s host of partnerships and collaborations, the aforementioned transfers may be indicative of the XRP market’s viewpoint changing. The volume of funds transferred may suggest that the MoneyGram news has woken up XRP whales from their slumber. Only time will tell whether such activity will go on for long.

Matthew is a full-time member of AMBCrypto US & UK Markets. Prior to joining AMBCrypto, Chan had an extensive 2-year investigative business reporting stint with Tribune media. He has been following the blockchain space and currently writes about blockchain products and cryptocurrencies. Matthew will be reachable at [email protected]