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Ripple Moved 150 Мillion XRP to an Unknown Wallet

14.09.2024 7:00 1 min. read Alexander Stefanov
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Ripple Moved 150 Мillion XRP to an Unknown Wallet

Ripple Labs, the well-known crypto payments company, recently made a significant transfer of XRP to an unknown wallet, sparking concerns and speculation in the community about the purpose of the transfer.

Data provided by Whale Alert shows that Ripple transferred 150 million XRP, worth approximately $85.38 million. What stands out about this transaction is that the wallet in question has a history of receiving multiple proceeds from Ripple.

The account, activated in October 2023, has experienced a series of fund outflows this September, including XRP 40 million on September 10 and XRP 12.08 million on September 12.

Prior to that, the wallet received 200 million XRP from Ripple in August and another 150 million XRP in July.

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This has fueled speculation among XRP holders, with some suggesting that the portfolio may belong to an institutional investor, while others believe it may be cold storage, signaling a potential bullish trend for XRP.

Alexander Stefanov
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With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.

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