Ripple’s XRP Ledger notices $251 million worth of XRP transferred in minutes

XRP Ledger has been noticing a slew of massive transactions ever since the start of 2019, as there were two massive transactions that happened worth millions on January 28, 2019.

As per the tweet by XRPL Monitor, the first transaction that took place transferred a total of 463,420,929.99 XRP, and the source of the transaction as seen in the Bithomp XRP explorer was Ripple. The total XRP transferred was worth a total of $134 million, while the sender balance now has 70.09 XRP.

The transaction took place on January 28, 2109, at 18:48:21. The total fee for this massive transaction came up to 500 drops [0.0005 XRP]. The sender had a balance of 70 XRP at the time of writing.

The second transaction took place a few minutes after the first transaction and the total XRP transferred were equivalent to 392,834,642.66, which was worth a humongous $114 million.

The fees for this transaction came up to 500 drops, the same as the above, i.e., 0.0005 XRP. The sender was yet again Ripple and the transaction happened on January 28, 2109, at 18:57:50, while the balance of the sender was 3.73 billion [3,730,330,148.609091] XRP.

The total balance for the sender of the second transaction was a whopping 4.12 billion [4,123,164,791.26959] XRP, which is worth $1.198 billion, at the time of writing.

Some people in the community speculate that these transfers could be Ripple’s customers gearing up for xRapid transactions. While others weren’t as optimistic as the former.

The latter believed that this was Ripple dumping their XRP on the users, which is anew FUD/rumor that the XRP community is facing. Moreover, from Bithomp block explorer it was noted that the first transfer was activated by Ripple, while the second was activated by Bitstamp, and the users speculate that it could be Ripple transferring the XRP into a holding account.

A Twitter user, @behindtheledger asked Bithomp if the second account was controlled by Ripple.

Bithomp replied saying that “Ripple usually use multi-signature on their accounts”, and that they’d have to set up the account before using it.

Another Twitter user, @cryptoprogress commented:

“It is very good for Ripple What people don’t understand is that the sellings absolutely don’t affect the exchange price because these #XRP are not sold on exchanges. Fortunately, they have signed with Ripple to not sell on the open market.”