Crypto News

Whale moves over 443.1 million XRP, worth $254.8 million, sparking community speculation

Another Significant XRP Transfer Sparks Community Speculation

XRP has once again taken center stage with a significant transfer of 443.1 million XRP, worth $254.8 million at the current price of $0.573 per XRP.

This transaction, which occurred just over an hour ago, has piqued the interest of the crypto community, resulting in widespread speculation.

This latest transfer follows a much larger transaction on Sunday that involved nearly $15 billion in XRP, or approximately 25.6 billion tokens. This significant movement raised eyebrows and sparked various concerns in the crypto community.

Bitfinex CEO Paolo Ardoino revealed that the Sunday transaction was an attempted attack using the “Partial Payments Exploit.”

Fortunately, Bitfinex’s robust security measures successfully prevented the attack, ensuring the platform’s integrity.

The focus has now shifted to the most recent XRP transfer, which has been investigated for possible connections to the European exchange Bitvavo.

The sender’s address, which was activated a week ago, matches Bitvavo’s profile. Furthermore, the recipient’s address, which was activated today and was previously empty, is thought to be linked to the Amsterdam-based exchange.

Given these findings, the crypto community speculates that Bitvavo may have conducted an internal operation.

This transfer could be intended to optimize storage within the exchange’s hot wallets, adding another layer of complexity to the ongoing story of unusual XRP transfers.

Tags

I am a dedicated crypto and blockchain content writer who is vision-oriented, diligent, smart, and self-motivated. I have over a decade of self-writing experience and five years of experience as a professional writer. I hope to inspire other women into this ever-evolving field.