Ripple’s 100 Million XRP Transfer Worth $54M, Sparking Community Concerns

The Massive 100 Million XRP Transfer Raises Questions About Potential Sale

Numerous sizable XRP transfers have been made in the past 24 hours, according to the blockchain surveillance service Whale Alert, which keeps an eye on significant cryptocurrency transactions and shares information about them with the X platform community. A transfer made by the massive blockchain company Ripple, headquartered in San Francisco, was one of them.

Four significant cryptocurrency transfers that carried a whopping 187 million XRP in total were reported by the data platform. The biggest of the XRP chunks, totaling a whopping 100,000,000 XRP valued at $54,594,473, was relocated by Ripple Labs. The XRP community voiced worries about Ripple’s purported intention to sell a sizable XRP chunk in the comments section.

105M XRP Moved by Ripple in Internal Transaction as Whale Transfers Surge

An anonymous blockchain address was the intended recipient of this transfer. This was, however, an internal transaction that Ripple transferred to one of its own wallets, according to information provided by explorer Bithomp, which focuses on XRP.

• 31,126,439 XRP were taken out of an unnamed whale’s digital wallet.
• There was $16,908,702 in currency equivalent to that amount of XRP.
• The latter two transfers sent 26,830,000 and 29,100,000 XRP to the well-known exchanges Bitso and Bitstamp, which are situated in Europe and Mexico, respectively.

Bithomp disclosed that the anonymous wallets behind such transfers belonged to Ripple, and Bitso and Bitstamp are part of platforms that work with the industry leader in cryptocurrencies to support the operation of the Ripple Payments feature, which uses XRP coins. Whale Alert discovered a 105,000,000 XRP transaction between two unidentified crypto whales one day earlier.

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