$99.3 million worth of XRP moved by an unknown source

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$99.3 million worth of XRP moved by an unknown source
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Recently, about 178,892,712 XRP ($99,292,179 ) was moved from an unknown wallet to another unknown wallet.

According to crypto gurus, XRP is the sixth most valuable cryptocurrency in the crypto world based on its market value.

This report was made known to the public via a tweet on Twitter by Whale Alert on the 15th of February 2021.

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In the tweet,

“178,892,712 XRP ($99,292,179 ) transferred from Unknown wallet to Unknown wallet,” said Whale Alert.

At the time of writing this report, the XRP currency is been traded at $0.556737 and has a daily trading volume of $11 Billion which represents that XRP is down by 6.35% for the day.

After the event, some crypto expert has looked into the case and suspected that the movement of such an amount of XRP would be from a player around the ripple ecosystem due to the fact that such a wallet would contain such among of XRP.

However, before this time, the U.S. Securities regulators had accused Ripple and its administrator of deceiving investors in the cryptocurrency space about the status of XRP thereby selling without the approval of the U.S. Securities and Exchange Commission about $1 billion of the crypto assets,

Facts you should know about Ripple

Ripple’s XRP is known to be a remittance network and currency exchange platform that self-governs server authentication.

However, the currency traded is referred to as XRP.

Therefore, Ripple (XRP) can be said to be a remittance network (payment platform) and can also be said to be a cryptocurrency.

According to a source:- The platform is an open-source platform that was created to allow quick and cheap transactions.

Conclusion

A total of 178,892,712 XRP which is worth $99,292,179 was transferred from an Unknown wallet to another Unknown wallet, and this report was made know via a tweet on Twitter by Whale Alert.

On the other hand, at the time of writing this report, the XRP value has dropped by 6.35% for the day.

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