when

Read

Change

<figure>
 <figcaption>
 Cover image via <a href="https://u.today/" rel="noopener noreferrer nofollow">U.Today</a>
 </figcaption>
</figure>
An unidentified large XRP transfer was seen in recent hours when, according to a report from<a href="https://x.com/whale_alert/status/1862458257056383227" rel="noopener noreferrer nofollow">Whale Alert</a>, 35 million XRP was transferred between two unknown wallets, which is equivalent to $58.29 million so far.
Such transfers are taken quite personally by crypto market participants, especially when unknown addresses are involved. It is believed that such transfers may be harbingers of price manipulation, which, given the current performance of XRP, may have a significant impact on investor sentiment.
<blockquote class="twitter-tweet">
 🚨 🚨 🚨 35,000,000 <a href="https://twitter.com/hashtag/XRP?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#XRP</a> (58,286,649 USD) transferred from unknown wallet to unknown wallet<a href="https://t.co/bkWk2uPIej" rel="noopener noreferrer nofollow">https://t.co/bkWk2uPIej</a>— Whale Alert (@whale_alert) <a href="https://twitter.com/whale_alert/status/1862458257056383227?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">November 29, 2024</a>
</blockquote>
Thus, the transfer was made between the addresses “rBEc94” and “rsX8cp.” Both of these addresses are unidentified, according to the tracker. However, if we delve into the data of XRPL explorers such as Bithomb, both of these addresses belong to the large brokerage platform Uphold. <img src="https://u.today/sites/default/files/inline-images/xrp_413.png" data-entity-uuid="2012dfa0-e5b9-4c4a-a0e8-470ecee50551" data-entity-type="file" alt="&quot;&quot;" data-caption="Source: <a href=&quot;https://uphold.com/transparency&quot;>Uphold</a>">
Uphold is one of the few centralized platforms that supported XRP even during the period of regulatory instability during the SEC v.<a href="https://u.today/sec-predicted-to-drop-ripple-case-by-former-cftc-chair-shiba-inu-surprises-with-mild-spike-in-this" rel="noopener noreferrer nofollow">Ripple</a> court battle. According to Uphold's own data, the platform now has nearly $3.85 billion in<a href="https://u.today/xrp-rival-stellar-xlm-eyes-22-gain-according-to-bollinger-bands" rel="noopener noreferrer nofollow">XRP</a> user funds. It has a coverage ratio of 100%. Trades in the token account for 26.23% of the total trading volume on Uphold, and the number of transactions is measured at 22.3 million.
Thus, it can be stated that this transfer of almost $60 million is nothing other than the internal operations of a large token platform. However, it is interesting that at the moment of the transfer, the<a href="https://u.today/xrp-on-brink-of-100-billion-milestone-for-first-time-since-2018" rel="noopener noreferrer nofollow">price of XRP</a> fell by more than 1.5% in the next six minutes, but then rose by 1.87%. <a href="https://u.today/35-million-xrp-change-unknown-hands-as-xrp-price-targets-2" rel="noopener noreferrer nofollow">Read original article on U.Today</a>

35 Million XRP Change Unknown Hands as XRP Price Targets $2

U_Today

Other articles published on Nov 29, 2024

5 Meme Coins You Don’t Want to Miss for Maximum Profits!

Breaking the Barriers: Qubetics Revolutionizes Tokenized Marketplaces as Hedera Powers Federal Re...

Boyaa Interactive becomes Asia’s largest corporate Bitcoin holder

Qubetics Community Announcement #5: Pioneering Qubetics Blockchain with Next-Gen Modules

Crypto News Today (Nov 29, 2024): Bitcoin at $96k | XRP Surges Amid Lawsuit Movements

Best Cryptos To Buy This Week: Qubetics’ $3.5M Presale, Ethereum Bulls Aim For $4,500, And Cronos...

Join our free newsletter for daily crypto updates!