Ripple Transfers 50M XRP to Unknown Wallet

The post Ripple Transfers 50M XRP to Unknown Wallet appeared first on Coinpedia Fintech News

The blockchain tracker Whale Alert reported a substantial transfer of 50 million XRP tokens from Ripple Labs Inc. to an unknown wallet valued at $25.7 million. Just last week, 100 million XRP were sent to an external wallet. Ripple periodically sells a portion of its holdings to fund its operational activities as part of its strategy to manage its reserves and ensure liquidity. These major transfers have sparked speculations in the community about whether Ripple is offloading its holdings and the broader impact of these actions. The scale and timing of these transactions can influence broader market sentiments and trends in the crypto space.