Whale Alert announced that approximately $58 million worth of XRP was transferred from an unknown wallet to Coinbase's wallet. This transfer was the last major transaction recorded after the $60 million on June 12 and Ripple's $498 million XRP movements on June 6.
This development signals that interest in XRP is rising again. While the transfer was made directly from an anonymous source to Coinbase's exchange wallet, the high amount highlights the significance of this one-time move.
Previous large transactions also come to mind: Just a few days ago, on June 12, $60 million worth of XRP was sent to Coinbase. These consecutive high-volume transfers indicate that Coinbase plays a critical role in XRP liquidity.
The Ripple company recently made a notable transaction. On June 6, a transfer of $498 million worth of XRP was made. This transaction raised some questions due to its different timing from Ripple's regular escrow movements.
On the other hand, XRP has recently been adopted as a fundamental tool in the treasury management plans of many micro-scale companies. The shift of these companies towards XRP-based systems is seen as an indication of the altcoin's potential for institutional acceptance. However, the extent to which this trend will become widespread and its success remains uncertain.
Ripple CEO Brad Garlinghouse also made bold statements about the future of XRP. Garlinghouse pointed out that XRP could capture 14% of the cross-border payment volume of the global interbank messaging network SWIFT. This statement strengthened expectations that XRP will have a larger role in global payment systems.
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