Large entities seem to be upping their game, amid the strong bullish trend sighted regarding moving XRP, the fourth most valuable crypto by market value, as lately seen by Nairametrics.
Wealthy investors of late have increased the pace at which such huge transfers are made, as seen via Whale Alert, with about 179 million XRP transferred by an investor some hours ago hinting that there might be more than meets the eye.
“178,893,734 XRP ($80,274,398 ) transferred from Unknown wallet to Unknown wallet,” said Whale Alert.
? ? ? ? ? ? ? ? 178,893,734 #XRP (80,274,398 USD) transferred from unknown wallet to unknown wallet
— Whale Alert (@whale_alert) February 8, 2021
XRP price today is $0.453348, with a daily trading volume of $8,484,879,611 USD. XRP is up 8.36% for the day.
What this means
That said, many crypto experts anticipate the movement of such cryptos are coming from major players within the ripple ecosystem, on the bias that such wallets contain a significant amount of XRP.
What you must know
Ripple’s XRP is often tagged as the “remittance network” and currency exchange that independent servers authenticate. The currency traded is known as XRP and transfer times are super-fast.
- Ripple (XRP) plays dual roles as a payment platform and a currency. The platform is an open-source platform that was created to allow quick and cheap transactions.
- Unlike its major 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.