Rippleis known as a blockchain-based platform that facilitates cross-border transfers. It is stated that in recent days, the platform transferred 60 million XRP worth approximately $34.09 million to an undisclosed wallet. This transaction was detected by Whale Alert. In this context, it caused various discussions in the XRP community.
Although the recipient identity is unknown, blockchain analysis shows that the target wallet was activated after a transfer of 70 million XRP from an address belonging to Ripple in October 2023. shows. There is currently a total of 150.28 million XRP in the wallet. This indicates that Ripple was involved in previous transactions.
🚨 🚨 60,000,000 #XRP (34,088,291 USD) transferred from #Ripple to unknown wallethttps://t.co/zfHG8o0Bbo
— Whale Alert (@whale_alert) February 20, 2024
NEWS CONTINUES BELOW
Community Dissatisfied
This XRP transfer comes amid ongoing controversy regarding Ripple’s actions and its relationship with the broader ecosystem. In particular, concerns have been raised about Ripple’s potential price manipulation and the possibility of liquidating significant XRP holdings in escrow accounts. In response to these concerns, Ripple’s Chief Technology Officer David Schwartz clarified the company’s stance, denying allegations of price manipulation and confirming that accessing XRP from escrow accounts is technically possible. However, there still remains uncertainty among community members about Ripple’s intentions and the impact of such transactions.
The community questions Ripple’s impact on the XRP ecosystem and its transparency policies. Large XRP transfers are sparking debate about the company’s intentions and business strategies. Some demand greater transparency, while others advocate confidentiality. However, restoring trust is possible through direct communication and openly addressing community concerns.
