Ripple Stuns Market With Mysterious 60,000,000 XRP Move as Price 10% Up
2024-12-14
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Prominent tracking platform Whale Alert, which monitors large cryptocurrency transfers, spreads the word about a mysterious big XRP movement spotted during the last 24 hours.
Details shared by an XRP-focused explorer show that this more than a hundred million U.S. dollars worth of XRP was transferred with the participation of Ripple juggernaut. This coincided with the XRP price going up by approximately 10% overnight. Currently, XRP is trading at $2.44.
60,000,000 XRP on move — where from and where to?
Whale Alert revealed an impressive 60,000,000 XRP transaction made from one anonymous wallet to another. That XRP chunked was valued at $144,669,520 at the time of the initiated transaction.
🚨 🚨 🚨 🚨 🚨 🚨 60,000,000 #XRP (144,669,520 USD) transferred from unknown wallet to unknown wallethttps://t.co/O5accg6pjL
Details provided by Bithomp show that the transfer was initiated by a wallet affiliated with the San Francisco-headquartered blockchain monster Ripple. It headed for an anonymous wallet that since Dec. 9 has received two batches of 15,000,000 XRP each.
Prior to that, in the same manner, using anonymous wallets, Ripple transferred 99,000,000 XRP on Friday and stunned the XRP community with two transactions, surpassing half a billion XRP cumulatively — 380 million and 200 million XRP, according to an earlier report published by U.Today.
Ripple mints 13 million RLUSD ahead of official release
Earlier this week, Ripple minted two large batches of its new crypto product — Ripple USD stablecoin — which had recently received official approval for listing and trading on cryptocurrency exchanges from the New York State Department of Financial Services (NYDFS). Shortly after that, the Ripple Chief Executive Brad Garlinghouse commented that the stablecoin will be rolled out to the market soon.
As covered by U.Today, on Dec. 13, the Ripple USD Treasury minted 10,399,000 and 2,600,000 RLUSD.
Ripple first announced the beginning of work on this new product in March this year. In August, the company spread the word that they began testing it in a closed beta. In the fall, news was spread that RLUSD would be released on both XRP Ledger and Ethereum, while recently, the Tron founder Justin Sun hinted that RLUSD may come to his blockchain in the near future too. Ripple’s top executives and the CEO left this comment without an answer and the community without a clarification, though.
Currently, the global stablecoin market is valued at close to $200 billion and in about four years, this value is expected to rise to $2.8 trillion.