Million

Fortress

Notable

<p>The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/altcoin/ripple-transfers-132-million-xrp-tokens-amid-xrp-price-dip/">Ripple Transfers $132 Million XRP Tokens Amid XRP Price Dip</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>Ripple Labs, led by CEO Brad Garlinghouse, has transferred totaling 132 million XRP in the past 24 hours. Notable crypto transaction monitor, Whale Alert, spotlighted these moves, igniting a frenzy of speculation within industry chat rooms. While the larger transfer, involving 100 million XRP, appears to circulate within Ripple’s wallets, a substantial sum of 32 million XRP found its way to the Bitstamp exchange.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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   <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> 100,000,000 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> (47,099,848 USD) transferred from <a href="https://twitter.com/hashtag/Ripple?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Ripple</a> to unknown wallet<a href="https://t.co/TQLTR2VL8d" rel="noopener noreferrer nofollow">https://t.co/TQLTR2VL8d</a></p>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1701288941448462341?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">September 11, 2023</a> 
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<h2 id="the-tale-of-the-132-million-xrp-transfers" data-name="the-tale-of-the-132-million-xrp-transfers" class="wp-block-heading"><strong>The Tale of the 132 Million XRP Transfers</strong></h2> 
<p>The crypto watchdog, Whale Alert, blew the whistle on two colossal XRP transactions that had community chat rooms humming with theories faster than you can say “blockchain.” Ripple Labs initiated a mammoth 100 million XRP transfer to an anonymous address, only for the XRP to make a U-turn back into another of Ripple’s own wallets. To add to the saga, <a href="https://twitter.com/whale_alert/status/1701333736506175979" rel="noopener noreferrer nofollow">32 million XRP</a> were sent directly to the Bitstamp exchange.</p> 
<p>The community, predictably, has its eyebrows raised and asked questions. One comment struck a particularly resonant chord, asking, “Do I smell settlement?” only to receive a counter-reply, “No, you smell sell-off.” For those keeping track, XRP’s price slipped to $0.4732 after these moves, casting a slight pall over the crypto.</p> 
<h2 id="institutional-play-a-gamble-or-long-term-strategy" data-name="institutional-play-a-gamble-or-long-term-strategy" class="wp-block-heading"><strong>Institutional Play: A Gamble or Long-Term Strategy?</strong></h2> 
<p>Meanwhile, CoinShares’ recent weekly report revealed a $0.7 million inflow into XRP-based products from institutional investors—echoing the inflow seen over the past month. Are the big guns looking past Ripple’s current courtroom battles, seeing a long-term golden goose? Or is this a risky gamble that could backfire?</p> 
<h2 id="acquisition-and-responsibility-the-fortress-trust-move" data-name="acquisition-and-responsibility-the-fortress-trust-move" class="wp-block-heading"><strong>Acquisition and Responsibility: The Fortress Trust Move</strong></h2> 
<p>Adding another layer of complexity, Ripple <a href="https://coinpedia.org/news/xrp-news-ripples-nevada-trust-license-pursuit-through-fortress-acquisition/" rel="noopener noreferrer nofollow">announced its acquisition</a> of blockchain startup Fortress Trust, even taking on the liability of a recent security incident impacting the latter’s customer base. While many in the industry applaud the acquisition as a sign of Ripple’s maturity, questions about its financing remain. Some community members ponder whether the firm leveraged its XRP holdings to underwrite the deal—a move that could signal a complex financial strategy or stoke further skepticism.</p> 
<p>As Ripple and its flagship cryptocurrency, XRP, stand at a crossroads, one thing is clear: The decisions being made today will have a far-reaching impact on the crypto-landscape of tomorrow.</p>

Ripple Transfers $132 Million XRP Tokens Amid XRP Price Dip

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