Monthly XRP Moves
Every month, XRP experiences a monthly release, and in January, a large portion of XRP was moved to an anonymous wallet. According to data shared by analyst Whale Alert, 80,000,000 XRP was moved to an unknown wallet.
Strategies Behind the Massive Move
At the beginning of January, Ripple moved 1 billion XRP, and later relocked 80% in escrow and sent the remaining 200 million XRP back to the company’s spending address. This strategic move by Ripple is significant as it shows a transfer of 100 million XRP to one address and an additional 80 million XRP to the same address. Ripple now locks up to 46.34 million XRP worth $26.46 million and holds 97.8 million XRP equal to $55.84 million in the mentioned address.
Mysterious 443 Million XRP Transfer
Recently, a large transfer of 443.1 million XRP valued at $254.8 million has attracted attention. There are speculations that this could be an internal operation by the European exchange Bitvavo, adding complexity to the ongoing assumptions of extraordinary XRP transactions. Ripple CEO Brad Garlinghouse made a surprising revelation during an interview with CNBC, stating that the XRP ETF will soon be approved, indicating that 2024 will be a big year for XRP.
Hot Take
Ripple’s recent XRP transfers have raised intriguing speculations about the company’s strategies and ongoing developments. Brad Garlinghouse’s announcement about the XRP ETF adds another layer of excitement to the future potential of XRP. As these significant moves continue to occur, it’s clear that keeping an eye on Ripple and XRP is essential for staying informed about this cryptocurrency’s trajectory.
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