2024

Litecoin

Status

<p>The post <a href="https://coinpedia.org/news/major-xrp-transfer-sparks-speculation-ahead-of-ripple-escrow-execution/">Is Ripple Dumping XRP? Large Transfer Raises Eyebrows Ahead of Escrow Release</a> appeared first on <a href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Just before July 2024, the crypto community was abuzz with a massive transfer of 200 million XRP, valued at approximately $94.56 million, between two anonymous addresses. The transaction, highlighted by Whale Alert, a prominent crypto-tracking platform, triggered widespread speculation regarding its motives and potential repercussions.</p> 
<p>Read more about this interesting update. </p> 
<h2 class="wp-block-heading" id="h-timing-and-speculation-ripple-s-escrow-connection">Timing and Speculation: Ripple’s Escrow Connection?</h2> 
<p>The timing and scale of this XRP transfer have led many to link it to Ripple’s planned escrow execution on July 1. Despite the speculation, tracking services have yet to confirm any escrow transactions related to this movement.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> 200,000,000 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> (94,554,479 USD) transferred from unknown wallet to unknown wallet<a href="https://t.co/mb8TQ9p3nU">https://t.co/mb8TQ9p3nU</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1807463996787724487?ref_src=twsrc%5Etfw">June 30, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>Blockchain data reveals an intriguing connection between the wallets involved in this substantial transfer and Ripple. The source wallet, “rP4X2hTa7A,” was activated by the destination wallet, “rJqiMb94hy,” last year. Notably, the “rJqiMb94hy” wallet itself was initialized by Ripple back in 2021. Prior to this major transfer, the “rP4X2hTa7a” wallet had been transferring smaller XRP amounts to various anonymous addresses over the course of ten days. This activity followed a receipt of 250 million XRP from the “Ripple 1” wallet on June 20.</p> 
<h2 class="wp-block-heading" id="h-ripple-s-xrp-release-predictions-was-june-a-game-changer">Ripple’s XRP Release Predictions: Was June a Game Changer?</h2> 
<p>Earlier forecasts suggested Ripple might offload 400 million XRP in June, doubling their usual monthly liquidation of 200 million XRP. This prediction was based on Ripple’s transaction patterns leading up to the release of 1 billion XRP from escrow on June 1. As anticipated, the 400 million XRP held in Ripple’s primary spendable wallet has been moved to external addresses.</p> 
<h2 class="wp-block-heading" id="h-current-status-and-market-impact-nbsp">Current Status and Market Impact&nbsp;</h2> 
<p>At present, the recipient wallet of the 200 million XRP still holds the token without any outbound transactions.&nbsp;</p> 
<p>As of July 1, 2024, <a href="https://markets.coinpedia.org/xrp/" target="_blank" rel="noreferrer noopener">XRP’s price</a> stands at $0.4819, with a 7-day change of +0.9% and a 24-hour change of +2.1%.&nbsp;</p> 
<p>This substantial XRP transfer has undoubtedly captured the crypto community’s attention, shedding light on Ripple’s activities and their potential market impact.</p> 
<p>Also Read: <a href="https://coinpedia.org/news/crypto-market-report-q2-2024-solana-and-litecoin-attract-3m-combined-inflows-last-week/" target="_blank" rel="noreferrer noopener">Crypto Market Report Q2 2024: Solana and Litecoin Attract $3M Combined Inflows Last Week</a></p> 
<p><strong>Did this news shake your confidence in XRP? Or are you holding strong? Let’s discuss.</strong></p>

Is Ripple Dumping XRP? Large Transfer Raises Eyebrows Ahead of Escrow Release

قائمة المحتويات

CoinPedia News

المزيد من المقالات نُشرت في ١ يوليو ٢٠٢٤

MoonBag’s Top Meme Coin Presale Stuns Competitors: VeChain and Polkadot Grapples With Centralizat...

Bitcoin at Your Fingertips: ATMs Are Multiplying

Roaring Kitty reveals 6.6% stake in Chewy via SEC 13G filing

Tether’s USDT Now Accepted for Social Security Payments in the Philippines

Binance TR Offers Big Rewards in New Events

WadzPay Pumps 25% Amid Tier-1 Listing Launch in July, How Much Will WTK Pump Once Listed?

انضم إلى مجلتنا الإخبارية المجانية لآخر تحديثات مجال العملات المشفرة يوميًا.