Blockchain tracking service Whale Alert identified a massive XRP transaction less than three hours ago, sparking intense discussions among cryptocurrency enthusiasts. The transaction involved 230,770,000 XRP, valued at approximately $414.47 million at the time. The transfer occurred between two unidentified blockchain wallets, leading many in the community to speculate on its purpose.
Community Reactions and Speculations
Following Whale Alert’s post on X, XRP supporters quickly voiced their opinions. Many believe that large investors, known as whales, remain highly active in the market. Others suggest that this transfer might represent an over-the-counter (OTC) sale.
This transaction follows a similar event earlier this week when a wallet moved 200,000,000 XRP to Binance. Initially perceived as an anonymous transfer, it was later confirmed as an internal Binance transaction used to reorganize its XRP holdings.
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In the latest case, data from XRP explorer Bithomp confirmed that the recent 230,770,000 XRP transfer involved wallets linked to Kraken, a major US-based cryptocurrency exchange. This revelation adds another layer of intrigue, as investors wonder whether the move signals a strategic reshuffling of XRP reserves or another type of financial maneuver.
XRP Network Growth Hits a New High
Despite market uncertainties, recent analytics highlight the continued expansion of the XRP network. Crypto analyst Ali Martinez shared Glassnode data revealing that XRP wallets holding at least 1 XRP have reached an all-time high of 6.26 million.
This milestone indicates strong adoption, even as market conditions fluctuate. Over the past 24 hours, XRP’s price has dropped by more than 10%, falling from $1.95 to $1.74. However, the cryptocurrency has shown signs of recovery, currently trading at $1.82.
This volatility reflects broader economic uncertainties but also underscores XRP’s resilience in the face of market shifts.
