XRP worth $7.5 million [25,000,000 XRP] transferred from third richest XRP wallet

A sum of 25 million XRP worth $7.5 million was transferred recently from the third richest XRP wallet to another wallet. XRP, a cryptocurrency coin closely connected with payments company, Ripple and enterprise blockchain software company, R3 is third on the list of the world’s largest cryptocurrencies, at press time.

The transaction of 25 million XRP cost a mere 500 drops [0.0005 XRP] which is approximately worth $0.0001514. The transaction took place on February 14, 2019, at 5:21 PM UTC.

XRPL monitor tweeted:

“Transaction Type: Payment Amount: 25,000,000 XRP Fee: 500 drops (0.0005 XRP) Sender: Ripple Sender Balance: 2,496,635,065.5766 Receiver: rPfSrrKY97EihgZeAwqgR7g1tYzDDJoAys Receiver Balance: 25,022,278.99987”

The current balance in the new wallet [rPfSrrKY97EihgZeAwqgR7g1tYzDDJoAys] is the same as the amount received, which suggests that it is a fairly new wallet. A total of 15 transactions have been recorded for the aforementioned wallet, the first transaction being on November 16, 2018.

The peculiar thing about this transaction is the identity of the sender [rKveEyR1SrkWbJX214xcfH43ZsoGMb3PEv]. According to data obtained by Bithomp XRP explorer, the sender was Ripple itself.

The wallet address, as per Bithomp belonged to Bitstamp and has a total balance of 2.497 billion XRP, which is worth a total of $752 million and 210,167 BTC.

The sender has had a total of 13 transactions and some people suggest that this wallet could be linked to escrow wallets. The Ripple wallet, however, was activated on December 01, 2017 at 22:54. The Ripple-owned wallet is the third richest wallet on the XRPL.

The first four richest wallets belong to Ripple, the richest wallet [rDbWJ9C7uExThZYAwV8m6LsZ5YSX3sa6US] had a total of 4.68 billion XRP. The second richest wallet has 3.73 billion XRP, the third is aforementioned and the fourth richest wallet has 1.95 billion XRP. The fifth wallet, however, belongs to Bitstamp and it has a total of 1.1 billion XRP.

Moreover, the wallet that received the above-mentioned amount of XRP has now achieved the rank of 128th richest cryptocurrency wallet.

@xrpgiles, a Twitter user speculated as to where this transaction was going, commenting,

“Boom ! JP Morgan have realised after three hours that superior tech exists ha ha ! @digitalassetbuy”

@smcmass1, another Twitter user came to the same conclusion as he commented,

“This transfer must be for JP Morgan to transfer internationally to other big players that don’t want their coin. JP Morgan needs this :)”

@cathy02755674 replying to smcmass1 said,

“What JP Morgan needs is for Warren Buffet to stop pulling their strings. They only wish they could have partnered with Ripple!”