Ripple Transfers 40 Million XRP, What Is The Company Up To? Is Ripple Working On A Secret Project? Is A Dump Imminent?

Ripple joins Blockchain Capital VC Fund with XRP investment worth $25 million price

Ripple News Today – Ripple, the Silicon Valley tech company behind the XRP token is always up to one thing other another. The stakeholders in the company have made it clear that they would not rest until their goals have been achieved. This is why they are always busy sponsoring innovative projects that would lead to an increase in the use cases for XRP and partnerships will promote global adoption of the token. In our previous XRP news, we talked about how members of the cryptocurrency community are not comfortable with the relationship between Ripple and XRP. Today, Ripple moved 40 million XRP to different addresses without any explanation. Now, community members are speculating on what Ripple is planning.

XRP News Today – XRP Price Forecast – XRP Ledger – Ripple News Today – What Is Ripple To To?

According to the report by Whale Alert, Ripple moved a significant amount of XRP in three transactions between the 8th and 9th of June. Out of the three transaction, one was worth 20 million XRP while the remaining 20 million was split between the other two. While the address of the receiver was unidentified, investigations revealed that a similar transaction was made to the same wallet address a while ago. This receiver wallet is most likely being used by Ripple to move funds. At the time of writing, the total amount of XRP in that account was about 22.323 million.

Members of the cryptocurrency community have their speculations about what Ripple intends to do with all that XRP. While some say that the receiver address also belongs to Ripple, others said that Ripple is moving the funds in a bid to flood the market with XRP tokens and manipulate the price to the benefit of institutional investors. In the past, the address sent XRP to exchanges like Huobi, Digifinex, Hitbtc. So, it’s difficult to determine if someone is buying XRP from Ripple directly or the company is just playing games. If the company is deliberately trying to manipulate the price, that would be bad press for Ripple that would add to the already long list of negative press.

XRP News Today – XRP Latest Update – XRP Price Prediction – Current Price Of XRP

At the time of writing, the price of XRP was $0.387770. This means that it is down by 5.46% against the USD and down by 2.66% against the BTC. The trading volume over a 24 hour period is $1,604,874,669 and the market capitalization is $16,379,009,113. Over the last seven days, the price is down by 5.58%. The trading volume is also down by at least 2%. The current downtrend is general. Almost every cryptocurrency is falling at this time.

When bulk transactions are made like that, the most likely thing to happen is a price dump. This is the main reason why traders are worried about such unexplained transactions.

What do you think about the XRP price prediction 2019 in our XRP news today? Will the price of XRP surge significantly anytime soon is a dump imminent? Share your thoughts in the comment section below.

Max writes about blockchain projects and regulation with a special focus on United States and China. He joined Smarterum after years of writing for various media outlets.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.