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Data shared by the prominent blockchain tracker Whale Alert, which monitors large cryptocurrency transfers, has spotted three massive multi-hundred-million XRP transactions worth almost $1.5 billion in fiat cumulatively.
Two of them were made consecutively, with all the three transfers made from one anonymous wallet to another.
640 million XRP change hands, community abuzz
The above-mentioned data source spread the word about a whopping 640,000,000 XRP being transferred between unknown wallets in three separate transactions. They carried 320,000,000 XRP, and two transfers carried 160,000,000 XRP each.
These XRP lumps were valued at $703,517,724; $351,678,691 and $351,651,005 at the time of the initiated transactions. The total worth of these crypto transfers was $1.406 billion.
These mammoth transfers of XRP set the crypto community abuzz, raising a heated discussion in the comments section. Many wondered about the nature of those transactions, talking about whales accumulating XRP. Some even thought that 320 million XRP were released by Ripple from escrow before its usual timing. However, one X user shed light on the origin of these enormous crypto moves, citing a @XRPwallets X account.
Ripple's top partner behind these transfers
@XRPwallets reported that Ripple’s top partner in Japan, SBI, using its crypto exchange SBI VC Trade, sent the 320,000,000 XRP in two separate transfers of 160,000,000 XRP each.
These XRP lumps were transferred to an anonymous wallet ending in -QjNRCZ, according to data shared by XRPscan.
Another X user also cited this XRPscan data, saying: “From SBI VC TRADE 4 (rNRc2S2GSefSkTkAiyjE6LDzMonpeHp6jS) to someone.”
Ripple CEO $50 XRP bullish
In a recently published tweet, Ripple chief executive Brad Garlinghouse assured the XRP army of his 1,000% bullish stance on the future XRP price, namely, that it will one day reach $50 per coin.
He published a “1000%” comment under a photo of an XRP tattoo on his shoulder published on Twitter back in 2023.
At press time, XRP is changing hands at $2.18. Since Friday, XRP is up 5.58% as it soared from $2.07. It was a recovery after the 6% decline XRP faced on Friday. Since last Monday, the fourth place cryptocurrency, XRP, has seen an impressive increase of roughly 11%.
Vladislav Sopov
U.Today Editorial Team