230 million XRP worth over $117 million moved by powerful investors

14 December 2020

in XRP

Reading Time: 5 mins read

Large entities seem to be upping their game in the few weeks left in 2020 as regards moving XRP – the third most valuable crypto by market value, as lately seen by Nairametrics.

Wealthy investors of late have increased the pace at which such huge transfers are made, as seen via Whale Alert, with about 230 million XRP in just 3 transactions transferred within a few hours ago — hinting that there might be more than meets the eyes.

29,999,980 XRP (15,415,586 USD) transferred from Unknown wallet to Coinbase.

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🚨 29,999,980 #XRP (15,415,586 USD) transferred from unknown wallet to #Coinbase

Tx: https://t.co/wCwIsGa3g1

— Whale Alert (@whale_alert) December 14, 2020

100,000,000 XRP (51,609,407 USD) transferred from Unknown wallet to Unknown wallet.

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[crypto-donation-box]

🚨 🚨 🚨 🚨 🚨 100,000,000 #XRP (51,609,407 USD) transferred from unknown wallet to unknown wallet

Tx: https://t.co/g5f8hF52hh

— Whale Alert (@whale_alert) December 14, 2020

100,000,000 XRP (51,783,761 USD) transferred from Unknown wallet to Unknown wallet.

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🚨 🚨 🚨 🚨 🚨 100,000,000 #XRP (51,783,761 USD) transferred from unknown wallet to unknown wallet

Tx: https://t.co/ewY1rengxZ

— Whale Alert (@whale_alert) December 14, 2020

Get Financial Data on the Nairametrics Research Website

What this means; That said, many crypto experts anticipate the movement of such cryptos are coming from major players within the ripple ecosystem, on the bias that such wallets contain a significant amount of XRP.

At the time of writing, XRP traded at $0.505510 with a daily trading volume of $8,155,309,593 USD. XRP is up 3.60% in the last 24 hours, it has a market valuation of $22,952,192,576 USD. It has a circulating supply of 45,404,028,640 XRP coins and a maximum supply of 100,000,000,000 XRP coins.

READ: Ripple opens last billion XRP for 2020, worth over $662 million

What you must know: Ripple’s XRP is often tagged as the “remittance network” and currency exchange that independent servers authenticate. The currency traded is known as XRP and transfer times are super-fast.

Ripple (XRP) plays dual roles as a payment platform and a currency. The platform is an open-source platform that was created to allow quick and cheap transactions.

Unlike its major crypto rival, Bitcoin, which was never intended to be a simple payment system, Ripple has gained the attention of major global banks such as Standard Chartered, and Barclays for international transactions worldwide.