Ripple Wires Millions of XRP as Price Shows Weekly Surge

Whale Alert crypto tracker spreads the word that slightly over 12 hours ago, Ripple fintech decacorn initiated a transaction that carried a massive 50,000,000 XRP tokens worth $25,657,347.

The transaction was made to an unknown wallet, according to the description provided by Whale Alert.

🚨 🚨 50,000,000 #XRP (25,657,347 USD) transferred from #Ripple to unknown wallethttps://t.co/NRwRzDbWSW

— Whale Alert (@whale_alert) September 22, 2023

The destination, according to details provided by the above-mentioned source, turned out to be another Ripple wallet. After receiving the said 50,000,000 XRP, this wallet transferred 130,000,000 million XRP to other wallets in three chunks — 30,000,000 XRP and two transactions carrying 50,000,000 XRP each. Those wallets also belong to Ripple Labs.

Earlier this week, Whale Alert spotted a whopping 120,000,000 XRP withdrawn from major crypto exchange Bithumb located in South Korea. However, it proved to be a transaction between Bithumb’s internal blockchain addresses.

Within the past week, Ripple-affiliated XRP token has demonstrated a price rise of 4.65%, currently changing hands at $0.51286. That weekly price growth includes a 6.87% price surge staged by XRP until Wednesday, Sept. 20, followed by a decline.

Source