XRP market unmoved while Ripple wale move another 100 million between wallets

The cryptocurrency market movement has dictated price movements and bearish straights, and despite the recent price falls, there seems to be no change in the magnitude of transfers. According to Whale Alert, a cryptocurrency data aggregator, a whopping 100 million XRP was transferred between two wallets on the blockchain.

The transfer amounted to 29.74 million and had a timestamp of 28 October 2019 06:39 UTC. The transaction had a hash of 472BC5905F146182CB7C2C8CBFC28FD144FE98630F21950420475BCE8244B580 according to Bithomp. The source was generated at rB4UtU9sAiMTF5Htg3k6kwUXV2dHyRFkJn while the source was at rKvAtitwmaYVFG8GwDmUSyqo71YMbeBSwn. XRP has always prided on the being the cryptocurrency with one of the lowest transfer fees and this was demonstrated with the latest transfer, which had a transfer fee of 0.015 XRP.

The sender wallet had an address of rB4UtU9sAiMTF5Htg3k6kwUXV2dHyRFkJn and had no additional funds other than the aforementioned 100 million XRP. The receiving wallet held an address of rKvAtitwmaYVFG8GwDmUSyqo71YMbeBSwn. This wallet had an additional 1.824 million XRP, which brought the total wallet amount at the transfer to 101.824 million, which translated to $29.864 million.

Ripple’s native cryptocurrency was also in the news recently when it was revealed that Ripple has over 50 billion XRP left in its escrow. The Brad Garlinghouse led company had recently released a report which talked about its hold on all its XRP. The total amount of XRP held by Ripple amounted to a massive 6.743 billion XRP.

The report added:

“In Q3 2019, three billion XRP were again released out of escrow (one billion each month). 2.30 billion XRP were returned and subsequently put into new escrow contracts.

The majority of the unused portion of the 700 million XRP not returned to escrow was being held in operating wallets at the end of the quarter. All figures are reported based on transactions executed during the quarter.”

At the time of writing, XRP was trading for $0.29, with a total market cap of $12.94 billion. After a slight 1.47 percent increase in the value, the market volume was up to $2.39 billion.

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