XRP Price Fixes Below $0.22 While 25 Mln XRP Sent from Binance to CoinBase

News
Wed, 12/04/2019 - 10:03
Yuri Molchan
The XRP price slides further below $0.22 than yesterday, meanwhile Whale Alert spots another large XRP transaction and the community is again speaking of a dump
Cover image via 123rf.com
Contents

On Tuesday, the XRP price slid below the $0.22 level where it had been holding for a long while. At the time of writing, the third largest coin is trading at $0.2149, instead of sitting at $0.219 yesterday.

Image via CoinMarketCap

Earlier today, the Whale Alert Twitter page published data about a 25-mln XRP transferred. Just like on December 1, when 1 bln XRP was released from Ripple's escrow vault, the community is again talking of an upcoming price dump, since more coins are obviously about to be injected to the market.

XRP - from Binance to Coinbase

Whale Alert reports that 25 mln XRP (that’s $5,365,381) has been sent from Binance to Coinbase earlier today.

Every month, Ripple, which has 55 percent of the total XRP supply in control, unlocks 1 bln coins. Many believe that it is preventing the XRP price from surging. On December 1, one bln XRP was unlocked again and the community went mad, accusing Ripple and its co-founder Jed McCaleb – now also the founder of Stellar Lumens –since he regularly receives enormous XRP payments from Ripple.

This time, however, the 25 mln XRP transfer was made from Binance to Coinbase. Even though, one Twitter user commented that the sender may be using Coinbase for its custodial services, the majority of users believe that the XRP price will be forced to plunge soon.

Related
Ripple Adds Japan’s Major University to Its UBRI Project, Now It Runs XRPL Validator

Crypto influencer accuses Ripple

Recently, U.Today reported that a crypto influencer @Crypto_bitlord accused Ripple of using XRP for purchasing real life business. As an example he referred to MoneyGram, saying that now after the recent investment Ripple owns a 10-percent stake at this global remittance giant.

Previously, when standing up to these accusations on Twitter, the CEO Brad Garlinghlouse told the community that these XRP sales are used for improving the Ripple ecosystem.

About the author

Yuri is a journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.

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