The famous Cryptocurrency XRP price witnessed an exceptional performance during the trading session today, as the prices of the origin of $ 160 billion suddenly increased by 7.5 %. After this sudden act of estimating the price, XRP witnessed that its quotes reach the highest level in two weeks at $ 2.75.
Interestingly, the procedures preceded by more than one billion dollars of XRP by the cross -border encryption provider in San Francisco, Ripple. The company is the largest user for XRP, as the distinctive symbol is used in Ripple services, including transfers, money settlements, border payments, and liquidity upon request.
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Each of the symbol and the company are associated with each other, although they are two different entities. Ripple owns 37.44 billion XRP in its guarantee accounts, which are gradually released every month.
However, the transportation, which occurred in two slices, is not associated with the monthly version of the symbols and suddenly occurred. Ripple for the first time 300 million XRP, which is currently $ 822 million. The transfer occurred to an unknown address previously, “RP4X2”. It is not a new or new portfolio and has been used since 2023. Whether it is a rippal still unanswered.
The following was 90 million XRP transformation, when an amount of symbols worth about 246.6 million dollars was sent to “RHWT2”. This wallet is not new either and has been exploited over the past two years. However, it is difficult to say that he belongs to Ripple as well, because it has not been activated by the company.
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Surprising large transportation in the encoded currency often causes anxiety and leads to greed and fear among market participants. In this case, the effect of the ripple is the opposite exactly like the Skyrocts XRP price. How this will end, however, is another question.
