Ripple transferred 24.2 million meanwhile former Ripple CTO is dumping another portion of XRP
According to XRPL Monitor, over the past 24 hours, Ripple has transferred 24.2 million XRP, or $ 6,089,565, between its wallets. In particular, Coinbase Pro transferred about 30 million XRP, and Jed McCaleb is earning a large share of the other XRP.
In total, Ripple and Coinbase Pro transferred nearly 55 million XRP
While some in the XRP community has speculated about the purpose of these transactions, an anonymous Twitter user suggested that the funds may have been allocated to operating expenses and hiring new team members. Ripple.
Previously, many people believed that Ripple’s sale of XRP prevented XRP price from rising sharply in the market. However, if taking into account 60% of the total supply of XRP held by Ripple, even large transactions like these are unlikely to keep prices down.
24,193,169 #XRP (6,089,565 USD) transferred from unknown wallet to Ripple
— Whale Alert (@whale_alert) September 18, 2020
While the Ripple suspicions have not been lifted yet, Coinbase Pro moved a slightly larger amount of XRP – about 30 million XRP, totaling $ 7,632,648.
Coinbase Pro made three transfers, each about 10 million XRP. Curiously, the transaction fees here vary from 20 XRP to just 2 XRP.
Meanwhile, XRPL Monitor also discovered two more transactions, each making 5.7 million XRP and a total of $ 2,902,788. The funds are deposited from the digital wallet “tacostand”, known to belong to Jed McCaleb – one of Ripple’s founders and its former technical director.
Besides, McCaleb created the infamous Mt. Gox exchange and the Stellar Lumens platform, a competitor of Ripple.
Ripple has been making regular XRP payments to McCaleb because of his role in founding the blockchain giant in the crypto industry.
Read more:
- Three Technical Factors Suggesting XRP Price An Extended Dive Towards $0.15, Fall 35% Below The Current Rate
- Trading Legend Peter Brandt Has Trashed The DLT Giant Ripple, Calling It “A Huge Bag Holder”