Ripple sends 200 million XRP to unknown Wallet
Whale Alert highlighted a cryptocurrency transaction by Ripple on Friday. Whale Alert reported a significant transaction involving Ripple, where 200,000,000 XRP was transferred from a Ripple wallet to an unidentified blockchain address.
XRP saw a slight increase, contributing to a total rise of 15 percent since Wednesday. The size of this cryptocurrency transfer generated considerable interest within the XRP community. However, the receiving wallet for this substantial transfer remains a mystery. Some users speculate that a price drop may be imminent, believing that Ripple sent this large amount of XRP for potential sale.
The 200 million XRP coins were initially sent to an anonymous wallet but were subsequently transferred to a cryptocurrency wallet associated with Ripple.
This suggests that a future sale of these coins is still possible.
Ripple has previously used similar transactions to send XRP to exchanges to cover its operating costs. Additionally, there is a possibility that Ripple may divide this large amount of XRP among different wallets.200,000,000 XRP left a Ripple wallet and traveled to an unidentified blockchain address. Standard Chartered says that XRP expects to reach $12.50 by 2028. This week, the cryptocurrency market has been volatile, with many tokens seeing price declines of double digits.
The banking behemoth Standard Chartered made a daring prediction that Ripple’s native token, XRP, could see a sharp increase in value in the upcoming years, which has put the cryptocurrency in the public eye despite the market slump.
The British multinational bank Standard Chartered now projects that XRP may hit $12.50, representing a record gain for the digital asset.
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