2024

Million

Pocket

<figure> 
 <figcaption>
 Cover image via <a href="https://u.today/">U.Today</a>
 </figcaption> 
</figure>
A whopping 250 million XRP were withdrawn from a Ripple wallet to an unknown destination today, thanks to a report from&nbsp;<a href="https://x.com/whale_alert/status/1803918887559315499">Whale Alert</a>.
According to the Bithomp explorer, the recipient address for the amount of the popular cryptocurrency equivalent to $122.5 million, "rP4X2," was activated on Oct. 2 last year. The activation was done by transferring 70 million XRP to this address.&nbsp;
Now this wallet contains nearly 270.96 million tokens. Meanwhile, 39.5 billion XRP remain in Ripple's escrow accounts.
<blockquote>
 🚨 🚨 🚨 🚨 🚨 250,000,000 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw">#XRP</a> (122,504,132 USD) transferred from <a href="https://twitter.com/hashtag/Ripple?src=hash&amp;ref_src=twsrc%5Etfw">#Ripple</a> to unknown wallet<a href="https://t.co/hSvEwAqyjY">https://t.co/hSvEwAqyjY</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1803918887559315499?ref_src=twsrc%5Etfw">June 20, 2024</a>
</blockquote> 
The destination of the transferred&nbsp;<a href="https://u.today/xrp-price-prediction-for-june-20">XRP</a> remains undisclosed, leading to speculation within the community. It is possible that the address belongs to&nbsp;<a href="https://u.today/xrp-co-creator-reacts-to-alarm-regarding-potential-tether-fueled-bubble">Ripple</a> itself, although it was originally activated by a transfer from another unknown address.
Another theory suggests it could be a hot wallet associated with a major exchange platform. Typically, withdrawals of this magnitude to exchanges are viewed cautiously by the market, often considered a signal of potential selling pressure.
<h2 dir="ltr" id="xrp-price-outlook">XRP price outlook</h2>
But let's turn to the&nbsp;<a href="https://u.today/xrp-on-track-to-be-security-in-california">XRP price</a> chart and see that the price of the popular cryptocurrency did not fall today in the midst of a huge transfer. On the contrary, the token's quotes have increased by more than 1.1% over the past few hours. XRP is now trading at $0.495.
<img alt="&quot;&quot;" data-entity-type="file" data-entity-uuid="fe7d0a48-5669-4589-ade9-bfe9a56594b5" src="https://u.today/sites/default/files/inline-images/xrp_378.png">XRP to USD by <a href="https://coinmarketcap.com/currencies/xrp/">CoinMarketCap</a>
What impact, if any, will this transaction have on the perception of the XRP price going forward? This question is likely to dominate community discussions in the coming days.

250 Million XRP Find Way out of Ripple's Pocket

Table of Contents

U_Today

Other articles published on Jun 21, 2024

Winklevoss Twins Pledge $1M Each For Trump, Claiming Biden Waged War On Crypto

SHIB on Verge of Breakout? Here's What Shiba Inu Insider Says

Saylor Bought $786 Million More Bitcoin🚀 Crypto Update

Why is Bitcoin down today? BTC slips below $64K

Memereum Sells Over 1M Tokens Within Hours on Presale While Markets Rebound (21 Jun)

XRP on Track to Be Security in California

Join our free newsletter for daily crypto updates!