Ripple Moves Whooping 522 Million XRP Tokens to a Crypto Wallet 

Fibo Quantum

Ripple has already been the one who keeps on moving large amounts of XRP tokens around several wallets. This time around the blockchain firm has moved up to 522 million XRP as per the claim made by XRPL Monitor (a twitter account that reports Ripple whale movements). The XRPL Monitor keeps the community updated with the large movements of XRP funds happening on the XRP ledger.

As per the report, the movement made by Ripple was to an unknown wallet that carried away 522 million XRP coins worth 132.4 million dollars. The transaction costed a fee of 0.0005 XRP and had no memos. The movement made by Ripple boasts the following key points to notice.

Transaction Type: Payment

Amount: 522,552,373 XRP

Fee: 500 drops (0.0005 XRP)

Sender: rNuF65SoNFRgi7KomddPeSpLhdB2Y7RnsN (Ripple)

Sender Balance: 121.01029

Receiver: rUS56vqwnwaAKLByqS2Nut3FhH2EeckhkQ

Receiver Balance: 522,552,398

Transaction ID: 4747DC17130EA2D95FC03CEAC1FC2843F55058EFB643EF7EE4C80C797DD7F81D

As usual, Ripple remains a key game changer for XRP as it has been moving large amounts of XRP in and out in recent times. A group of investors isn’t happy at all from the actions of Ripple as it wants the blockchain company to halt such movements. Even the investors filed a petition against Ripple for repeatedly selling the digital asset. As per the critics, this latest massive movement is a mirror of the following action and shows that Ripple is using its native token for benefits.

Recently, bashing the XRP community, Ripple CEO Brad Garlinghouse said that the XRP sales are about helping expand XRP’s utility, building RippleNet and supporting other biz building w/XRP, i.e. Dharma & Forte. The reality is that Ripple has decreased XRP sales by volume quarter by quarter and that’s why the inflation rate of XRP circulating supply has been lower than that of BTC and ETH.

Furthermore, Ripple continues to set industry standards in reporting and transparency as that reflected in one of its quarterly markets report. As per the claims by Brad, Ripple will soon update on the allegations made on it by the investors for manipulating its cryptocurrency’s market price. He affirms, the FUD will finally be over, and the truth will come up, what really the matter is? Commenting on spreading FUD among XRP community Brad said:

“I’m always struck by the questionable sources (I’m being generous here) spreading FUD about XRP and Ripple. Even more so over the last few weeks (Ripple’s XRP sales, litigation, etc.)…. thus, I feel compelled to comment.”

Subsequently, this massive movement of XRP coins seems to be a good one for the digital asset. Such transfers on the XRP Ledger mostly means good things, especially when Ripple is the one moving it around.

As we write this, Ripple looks to have gained an upward push with XRP price surging up to 1.35% in the last 24 hours. The trading price of XRP holds around $0.255, and at press time, the coin has a market cap of $10.98 billion.

Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.

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