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According to the data on the chain, ripple She transferred a large amount of XRP to unknown wallets, attracting the attention of the cryptocurrency community. According to blockchain data tracker Whale alertRipple transferred a total of 90 million XRP in two separate transactions in the past 24 hours.
The first transaction involved the transfer of 50 million XRP, worth approximately $111,697,462, which was transferred by Ripple to another unknown wallet. Shortly after, a second transaction saw 40 million XRP worth $89,678,944 sent from Ripple to an unknown wallet.
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Interestingly, these transactions come amid a period of increased market volatility. XRP remains firm above key support levels, following last week's heavy sell-off. At the time of writing, the price of XRP has risen 2.12% over the past 24 hours to $2.27, recovering from earlier losses amid broader investor caution towards risky assets.
XRP fell to lows of $2.17 in the Sunday session before rebounding slightly to highs of $2.29. Despite the recent market sell-off, XRP is still up 266% annually.
What's going on here?
While the exact reasons behind Ripple transferring 90 million XRP are unknown, large-scale transfers often present some possible scenarios.
These movements may be related to routine liquidity operations or preparations for On-Demand Liquidity (ODL) services. Another possibility is portfolio restructuring or internal money management.
Large transfers to unknown wallets, which are not linked to cryptocurrency exchanges, may suggest buying; If this is the case, whales or institutional actors may accumulate XRP.
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The timing of the transfers is noteworthy, as it coincides with a period of market volatility that saw many crypto assets trading at a discount and days after the launch of RLUSD.
Ripple US Dollar (RLUSD) The stablecoin was launched on global exchanges on December 17 in a major milestone for Ripple and the cryptocurrency community. Described as an “institution-grade stablecoin,” Ripple USD (RLUSD) offers a top-tier USD stablecoin that is fully backed by the XRP Ledger, combining monetary stability with blockchain efficiency.
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