Over 725 million XRP worth $400 million moved by unknown investors

The third most valuable crypto by market value, XRP, is in the news again. Large investors have increased the pace at which they make transfers, hinting that something significant is about to happen in the crypto-verse.

Recent transactions made by unknown investors as seen from Whale Alert, an advanced crypto tracker, revealed them moving over 725 million XRP worth over $400 million from one point to another, in at least 5 transactions in the span of a day.

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Nairametrics captured the top transactions seen in the last 24 hours:

1. 325,000,000 XRP (188,114,715 USD) transferred from Uphold to an unknown wallet.

READ: Over 81,500 Ripple owners to receive free crypto in a few days

🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 325,000,000 #XRP (188,114,715 USD) transferred from #Uphold to unknown wallet

Tx: https://t.co/4rgYFWjIVD

— Whale Alert (@whale_alert) December 10, 2020

2. 100,000,000 XRP (57,684,586 USD) transferred from Ripple to Uphold.

🚨 🚨 🚨 🚨 🚨 100,000,000 #XRP (57,684,586 USD) transferred from Ripple to #Uphold

Tx: https://t.co/UkBEEWx1N3

— Whale Alert (@whale_alert) December 10, 2020

3. 225,000,000 XRP (130,538,710 USD) transferred from Ripple to Uphold.

🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 225,000,000 #XRP (130,538,710 USD) transferred from Ripple to #Uphold

Tx: https://t.co/VA25R9rMQN

— Whale Alert (@whale_alert) December 10, 2020

• At the time of writing, XRP traded at $0.562019 with a daily trading volume of $9,911,368,213. It has been down 1.83% in the last 24 hours.
• XRP has a market capitalization of $25,490,264,712. It has a circulating supply of 45,354,822,131 XRP coins, and a maximum supply of 100,000,000,000 XRP coins.

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What this means: There are no clear reasons behind such rampant activities seen lately as regards XRP transactions, but Nairmetrics, through its data feed, observed that large entities of XRP are definitely increasing their stakes in XRP astronomically.

What you must know: Ripple (XRP) plays a dual role as a payment platform and a currency. The platform is an open-source platform that is created to allow quick and cheap transactions.

READ: Ripple’s big players move XRP worth over $50 million

Unlike its crypto rival, Bitcoin, which was never intended to be a simple payment system, Ripple has gained the attention of major global banks such as Standard Chartered and Barclays for international transactions worldwide.

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