Ripple Moves 390 Million XRP – What’s Going On?
XRP prices surged 7.5% in today’s trading session, hitting a two-week high of $2.75/XRP.
Notably, prior to this price surge, Ripple – the company behind the cross-border payments network – made two large transactions, moving a total of 390 million XRP worth over $1 billion.
🚀 Mysterious Transaction Worth $1 Billion
Ripple, a San Francisco-based company, has moved 300 million XRP ($822 million) to an anonymous address “rP4X2” – a wallet that has been in existence since 2023 but it is unclear whether it belongs to Ripple or not.
The company then proceeded to transfer 90 million XRP ($246.6 million) to the “rhWt2” address, a wallet that has been active for the past two years but was not initially activated by Ripple.
This has fueled speculation about the true intentions of these transactions.
What Is Ripple Preparing For?
Currently, Ripple holds 37.44 billion XRP in escrow accounts and regularly releases a portion of it each month. However, these transactions did not involve a regular unlock, leading many to question whether Ripple is preparing for a big move.
Big moves are usually unsettling, but this one has sparked investor greed, sending XRP prices soaring. Will XRP continue to break out or is this just a short-term “pump”? Let’s see
#rxp #Ripple💰