Ripple Just Moved Millions For XRP: Ripple moved a lot of XRP as the cryptocurrency’s price stayed steady at around $0.5.
The price of XRP is trying to stay above $0.5, and recent data shows that Ripple has been moving a lot of XRP (cryptocurrency) for unknown reasons. On Monday, the company moved 53.75 million XRP (about $27.5 million) and 120 million XRP (about $60.8 million) to two different addresses.
The Crypto Basic found that one address kept the money it got. Meanwhile, the second address received the same amount but still has 90 million XRP (about $45 million) left after transferring some.
On-chain transactions may not clearly show why the transfer is happening, but some public information can give hints.
For example, if the money goes to addresses connected to big Ripple-related XRP transfers before, it suggests the transactions might involve other wallets or entities controlled by Ripple moving large amounts.
Furthermore, the transfer might just be connected to Ripple’s payment tools, which let banks use XRP to quickly and affordably move money across borders.
Ripple usually makes big transactions with a lot of cryptocurrency every now and then for various reasons. In the last month, the company moved 73.4 million XRP to different wallets.
Latest Legal Development
XRP’s recent change happened because a judge gave permission to force Ripple to share its financial documents. These papers will help decide the punishment for Ripple in the case.
XRP Price Stabilizes
At the moment, the recent changes haven’t caused the price of XRP to visibly go up or down. XRP is still being traded at around $0.5, maintaining a stable period that started in late January.
Experts expect that the current stable prices might be a sign that there will soon be more unpredictable price changes. The main question is whether prices will go up or down, considering the challenges the overall cryptocurrency market is facing.
In simpler terms, the short-term price of XRP might depend on how it has behaved in the past and what the overall cryptocurrency market is doing.
If more people feel positive about the market, XRP could do better. Also, looking at how it has performed before, there might be a big increase when the overall market is doing well.
Disclaimer: The information on this website isn’t meant to be taken as advice for investing money. Investing involves uncertainty, and there’s a chance you could lose your money when you invest.