Ripple Transfers More Than $132 Mln Worth of XRP to Unknown Wallet

Libra Coin News
Fri, 08/30/2019 - 07:05
Alex Dovbnya
Ripple might have started another aggressive selling spree despite Garlinghose’s claims that their sales are decreasing quarter over quarter
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According to data provided by Whale Alerts, the website that tracks massive transactions across a multitude of Blockchains, Ripple has recently moved more than $132 mln worth of XRP to an unknown wallet.

Trading Legend Peter Brandt Suggests That Ripple’s XRP Price Could Drop to $0.02

The gargantuan transfer gave a breeding ground to speculations that the San Francisco-based cryptocurrency juggernaut went on another selling spree. This could inflict more pressure on Ripple’s XRP, which is currently trading at $0.255 on the heels of another crypto market downturn.

Bloomberg recently pointed out that the token turned out to be one of the worst-performing cryptocurrencies in 2019 despite Bitcoin rallying by more than 200 percent. Furthermore, Multicoin Capital co-founder Kyle Samani pointed out that Ripple’s increasing XRP sales could be directly related to this disastrous price action.

Ripple CEO Brad Garlinghouse recently commented on his accusations, claiming that these sales are needed in order to expand the utility of XRP, but the crypto community doesn’t seem to buy it.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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