Rich Ripple players seem to be upping their game in Q4, 2020, as regards moving XRP – the third most valuable crypto by market value, as lately seen by Nairametrics.
Large investors have increased the pace at which such huge transfers are made, as seen via Whale Alert, with over $50 million worth of XRP in more than 5 transactions transferred within the last 12 hours — hinting that there might be more than meets the eyes.
The two most recent transactions include,
- 20,000,000 XRP (12,591,740 USD) transferred from Unknown wallet to Bitstamp
- 10,000,000 XRP (6,814,748 USD) transferred from Uphold to unknown wallet
That said, many crypto experts anticipate the movement of such cryptos are coming from major stakeholders of Ripple, on the bias some of these wallets contain a significant amount of XRP.
XRP price has jumped by more than 100% since last week, leaving behind the top two cryptocurrencies, Bitcoin and Ethereum in price gain.
What you should know
- Ripple (XRP) plays dual roles, as a payment platform and a currency. The platform is an open-source platform that is created to allow quick and cheap transactions.
- Unlike its crypto rival, Bitcoin, which was never intended to be a simple payment system, Ripple has gained the attention of major global banks, such as Standard Chartered and Barclays for international transactions worldwide.
What they are saying
Economic Historian, Barry Eichengreen, recently explained that cryptos should not just be considered for speculative reasons, as leading crypto assets have shown characteristics of being tangible assets.
Barry went on to explain why cryptos have become the new digital gold, “Gold doesn’t really have any intrinsic value. People [believe] it will hold its value because other people value it. There is, from that point-of-view, a parallel with cryptocurrencies. People pay actual U.S. dollars for it, because they think other people will value it and pay actual U.S. dollars for it.”