As Bitcoin may be on the verge of breaking above the long-eyed $8,000 resistance, XRP is also pumping. It has broken $0.21, striving for higher marks.
Meanwhile, several big crypto market players have, together, made several transfers, moving ninety-eight million XRP with Ripple and the largest ODL-powered corridor.
Nearly 100 mln XRP wired
The XRPL Monitor bot, specially designed for tracking XRPL transactions, has shared details of several blockchain transfers constituting ninety-eight million XRP – that’s $21,002,563 in USD.
Half of this gargantuan amount was transferred by blockchain decacorn Ripple – 50 mln XRP.
Transaction Type: Payment— XRPL Monitor (@XRPL_Monitor) April 29, 2020
Amount: 50,000,000 XRP
Fee: 100 drops (0.0001 XRP)
Sender Balance: 7,711,322.303698
Receiver Balance: 67,500,000.993425
Bitso, the Mexican crypto exchange and largest ODL-powered corridor for wiring funds via XRP, took part in transferring 18.4 mln XRP ($3,941,909).
100 bln XRP vs 21 mln BTC
Crypto investor, YouTube blogger and XRP advocate Robert Art has taken to Twitter to offer an explanation for the tremendous number of the total XRP supply – almost 100 bln versus 21 mln BTC (of which only slightly over 18 mln is in circulation at the moment).
Many Bitcoin advocates are emphasizing the scarcity of Bitcoin when talking about its current high price and its great potential for growth (some ambitious ones are forecasting from between $400,000 to $1 mln).
The so-called ‘XRP army’ hopes that, one day, XRP will become the global bridge currency to be used by banks.
“Why is there 100 billion XRP and not 21 million like Bitcoin? Because there are 7.8 billion people in the world, 1.4 billion unbanked and underbanked and 180 currencies in 195 countries. That’s 12.6 XRP per person. Suddenly, 100 billion isn’t much, is it?”