In the latest crypto whale movement, Ripple Escrow wallet has transferred 500 million XRP tokens to the Fintech company. Ripple has been primarily involved in these whale moves and moved a massive amount of XRP in recent times.
The Whale alert account on Twitter gives the information on these crypto whale movements and keeps the crypto community informed regarding different crypto whale moves in the market. In a recent tweet, it mentioned a movement of worth $130,130,714 to Ripple from the Ripple Escrow wallet.
As we can observe in the past few months, Ripple has had a negative influence on XRP’s price with these gigantic transactions. Notably, in the past few weeks, we have seen millions of XRP coins been moved from and to Ripple.
On August 30, Whale alert mentioned a movement of XRP coins of a similar scale worth $132,446,488 from Ripple to an unknown wallet. A much bigger movement was noticed on Sep 1, when Ripple received 1 billion XRP coins from Ripple Escrow wallet. However, regarding the recent transaction made on Sep 3, here are some key points to look up to:
Type: Payment
Time (UTC): 2019-09-03 04:45:10
Ripple Sequence: #30
Ripple Delivered amount: 500 000 000 XRP
XRPL fee: 0.0005 XRP (500 drops)
Source: rDdXiA3M4mYTQ4cFpWkVXfc2UaAXCFWeCK (Ripple Escrow Wallet)
Destination: rsjFB8mPWqiZgPUaVh8XYqdfa59PE2d5LG (Ripple)
Back in late 2017, Ripple Labs published a whitepaper in which the US-based blockchain firm informed that almost one billion XRP would be released every month. And the process would continue for the next 55 months, which is expected to end in mid-2021 so still, there are millions of XRP coins to be moved in the future.
Community shows no support to Ripple on the matter
The community seems to be sending no cooperation signals to the US-Based blockchain firm, again, as many responding by harsh comments. One XRP community member who goes by the XRP_Dan on Twitter said,”
“Pay day for Ripple team.”
Ripple claims that this is a routine process that takes part in each quarter. However, the constant process of massive Whale movements has turned the XRP investors against the Fintech company, and they have already created a petition on Change.org to record their protest against Ripple.
This is a severe concern for Ripple, and they should address the XRP investors regarding the whole scenario or instead, it could lead the investors to move out of XRP.
The exciting thing this time is; however, the movement took place earlier today (3rd Sep), and as we write this, Ripple’s XRP stands in green. It trades at $0.259 with the price having surged up to 1.54% in the last 24 hours. One positive thing to notice in all this scenario is that XRP’s volume has been continuously increased since the start of this month, and currently, it has a volume of over 1 billion.
Ripple and XRP are both promising entities that are looking forward to contributing to this modern technology. Brad has claimed that Ripple will soon clear this FUD among the XRP investors, as the company is soon going to inform regarding all this scenario and is going to take the investors into satisfaction.
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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