Ripple, a cryptocurrency payments company and the largest holder of XRP, has initiated another large-scale transaction that has caught the attention of the crypto market. The payment protocol and exchange network has dumped 150 million XRP, representing approximately 0.25% of the cryptocurrency’s current market capitalization.
Ripple’s Large-Scale Transfer
In a recent X (formerly Twitter) post on Wednesday, May 13, blockchain tracker and analytics system, Whale Alert disclosed that Ripple had sold 150 million XRP tokens valued at over $75.7 million. The recipient of the substantial XRP transfer was an anonymous crypto wallet address identified as “rP4X2hTa7A,” which was activated by Ripple.
The transfer occurred in two separate transactions, with a one-hour time difference. Whale Alert revealed that 100 million XRP worth approximately $55,776,737 was transferred into ‘rP4X2hTa7A’ from another anonymous wallet address ‘rhWt2bhRq.’
The second transaction
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