Ripple Labs Inc., one of the leading blockchain payment companies in the USA, recently XRP He managed to attract attention by moving tokens.
According to Whale Alerts data RippleA wallet belonging to attracted attention by carrying 27,700,000 tokens worth $14,482,315. Although the identity of the sending wallet is labeled as “undetermined” in the data, a short search on blockchain explorers shows that it is directly connected to the company.
As we reported as Koinfinans.com, as can be seen in historical data, Ripple Labs prefers Bitstamp as one of the best exchanges where it liquidates its assets. As dumping XRP continues to be a trend, it remains to be seen whether more such liquidations will occur.
Sales from escrow wallets are not uncommon for Ripple, especially once a month. While the smaller exchange has not categorically labeled its transactions for a specific purpose, there are speculations that the liquidations may be for operational and partial liquidity increases.
How Did XRP Price React?
The transfer is one of many whale transactions recorded on the network in the past few weeks. While this transaction has trended towards liquidations, others have significantly helped bolster the supply of the digital currency to help stabilize its price.
The price is trading at $0.5238, losing up to 2% in the last 24 hours. Since the price is in a critical area, large liquidations such as the mentioned transfer could negatively impact investor sentiment.