Ripple Sells Millions Of XRP Over The Counter

After Bitcoin and Tron move crypto by millions, Ripple followed suit. The San Francisco startup has transferred more than 73,200,000 XRP worth US$ 23.9 million to an unknown wallet. Crypto experts are now keeping track of Ripple after it moved millions of dollars worth of XRP. This special group of experts monitors transactions taking place in the cryptocurrency space to keep an eye on the massive movement of digital funds from different exchanges and wallets.

The largest and most current transfer by Ripple stands at 47,200,000 XRP, which is worth more than US$15.7 million. It was transferred from a known over-the-counter Ripple distribution wallet to an unknown wallet. There seems a possibility that Ripple may have sold the batch to a third party in order to make new investments in the XRP ecosystem. However, the crypto firm has many times; in the past, sold tokens held in reserve to cover its operating costs.

Correspondingly, Bitcoin whales have moved a whopping 12,300 BTC worth the US $48.7 million from unknown wallets to the crypto exchange Bitfinex. Similarly, Tron whales have moved 409,499,944 TRX worth US$10.2 million to several crypto exchanges including Bittrex, Binance, Bitfinex, and Huobi.

• 4,000 BTC worth $15.9 million transferred from Bitfinex to unknown wallet
• 5,000 BTC worth $19.8 million transferred from unknown wallet to Bitfinex
• 1,800 BTC worth $7.1 million transferred from unknown wallet to Bitfinex
• 1,500 BTC worth $5.9 million transferred from unknown wallet to Bitfinex

• 160,000,000 TRX worth $4.0 million transferred from unknown wallet to Binance
• 39,999,966 TRX worth $1.0 million transferred from unknown wallet to Binance
• 39,999,966 TRX worth 1.0 million transferred from Bitfinex to unknown wallet

Ripple has been adding new clients especially marquee name clients and renowned banks to its network. Widely known for its digital payment protocol, many financial institutions are using the Ripple protocol to transfer money from one part of the globe to another.

These factors have significantly helped in increasing the market cap and value of XRP. Being one of the largest cryptocurrencies in the market, cryptocurrency experts believe that Ripple XRP will be a good investment opportunity for 2019. Furthermore, XRP can triple its value or reach around US$3- US$5 by the end of this year.

Co-founded by Chris Larsen and Jed McCaleb in 2012, Ripple has gained worldwide recognition and market success via the digital coin, the XRP. Ripple was developed by Ripple Labs Inc., a US-based technology company for real-time gross settlement system, currency exchange, and remittance network.

 

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