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XRP whales continue to remain active after 100,000,000 XRP moved

Biraajmaan Tamuly

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100,000,000 XRP moved amid the fall in prices of digital coins
Source: Pixabay

With Bitcoin surging past the $12,000 mark, before falling down to $11,632.11 at press time, the market saw a number of transactions happening between unknown wallets. While the crypto-market continued to tussle with sideways movement, the flow of money between users and wallets surged in the market.

Ripple and its token, XRP, have been significant beneficiaries of this surge. Whale Alert, one of the web’s major cryptocurrency transaction trackers, shared news of the transfer of 100,000,000 XRP between unknown wallets, over its official Twitter handle. Whale Alert tweeted,

“100,000,000 #XRP [31,273,895 USD] transferred from unknown wallet to unknown wallet.”

The transaction was took place in 10,000 drops between wallet address rjmMgNPRCbMCkx5QGTkXCV7DjenRPjyzs, and wallet address rKvAtitwmaYVFG8GwDmUSyqo71YMbeBSwn ,with a timestamp of 08:46:40 UTC, 7 August 2019. Additionally, the hash for the transaction was 0E002CA02A7A3111C1868C813201883BDBEAD7812A016FB24F67E07869DB201F.

This transaction was carried out over Ripple blockchain for a transaction fee of 0.o1 XRP. The block height of the transaction was #49177790 and it was deemed a successful one.

As previously stated, XRP has been a popular currency for whale transfers over the past few days. Just yesterday, 100 million XRP were transferred between a pair of unknown wallets. The day before, 28 million XRP were transferred on the back on Bitcoin surging by 10%.

This is unlikely to be an anomaly. Just a day prior to these large transfers, MoneyGram confirmed the use of Ripple and XRP in its Quarter 2 financial report. It would thus seem that confirmation has woken several significant XRP whales from their slumber. The price of Ripple’s native token hasn’t recorded much growth in 2019. However, such developments and growing transfer volumes may just stoke the value of the token upwards.

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.

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