Wealthy entities seem to be upping their game, amid the relative bullish trend regarding moving XRP, the 7th most valuable crypto by market value, as lately seen by Nairametrics.
Data retrieved from Whale Alert revealed that an unknown whale recently moved 785,669,269 XRP worth $340,323,977 from an unknown wallet to another unknown wallet.
— Whale Alert (@whale_alert) March 13, 2021
At press time, the seventh most valuable crypto traded at $0.442774, with a daily trading volume of $2,555,123,793. XRP is down 3.96% for the day.
What this means: Many crypto experts are of the opinion that the movements of such cryptos are coming from major players within the Ripple ecosystem, on the bias that such wallets contain a significant amount of XRP.
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.