XRP Some suspicious activity regarding tokens began on Friday, July 15, 2022. According to some transfers detected by WhaleAlerts, 60 million XRP worth $21.86 million was sent primarily from Ripple’s home address to an unknown wallet. Three hours later, the same amount of tokens was sent from an unknown wallet to Bitso, a global crypto exchange based in Mexico.
🚨 🚨 60,000,000 #XRP (21,864,604 USD) transferred from Ripple to unknown wallethttps://t.co/uheiGcgdP8
— Whale Alert (@whale_alert) July 20, 2022
However, the suspicious movements did not end there, and an hour later, 59.9 million XRP Bitso was transferred between addresses or transferred to the address it first came from. It is a known detail that wallet addresses included in the turnover hold a large number of Ripple’s native tokens.
Ripple Credit Card Coming?
Despite rumors of its own card solution appearing on Xumm Wallet, the main wallet of the XRPL ecosystem, the project’s development team has clarified that it is not interested in such an innovation.
Lead developer Wietse Wind, XRPL LabsHe stated that Xumm Wallet has no plans to create debit and credit cards because these solutions are highly inefficient and operate on the principle that someone else pays if the consumer does not pay.
This is why we’re working on onramp & offramp: instant swaps from fiat to XRP and vice versa. From your own bank account to your own XRPL account.
Again: we’re taking the hard route: with our own licenses & systems. So we can do it right, without the crazy fees.
(4/5)
— WietseWind – 🛠XUMM @ XRPL Labs (@WietseWind) July 21, 2022
Despite the rejection of these claims, it would be wrong to claim that XRPL cannot bridge the worlds of fiat money and digital finance. On the contrary, the ecosystem development team continues to actively work on on-ramp and off-ramp solutions that will provide instant fiat exchange and return to XRP.
Ripple Another noteworthy detail is that the abnormal movements on the side of the token started on Friday, when the trading volume of the token increased 12 times in just two hours. With the start of the new week, suspicious activity has been detected again, with XRP moving from wallets to exchanges and multi-million-dollar transactions in short periods of time. This trend can still be seen today.
As Koinfinans.com, all these developments do not affect the price. The token continues to move sideways near the top of the price corridor, where it reaches a strong resistance at $0.375. However, indirectly, although they have no direct impact, these transactions may indicate possible future price fluctuations.
You can follow the current price action here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.