Ripple News Today – September 8

Ripple XRP Price Prediction
  • 30 million XRP tokens moved to Binance from an unknown wallet.
  • 10 million XRP tokens moved from Bithumb to an unknown wallet. 
  • Ripple’s CTO gets 100 million XRP tokens sent to his wallet.

Ripple News Today – According to a post from Whale Alert, about 30 million XRP tokens, equivalent to $7,547,336, have been moved from Binance and back to Binance again. The XRP tokens were sent from an unknown wallet to Binance, the largest cryptocurrency exchanges per volume. The purpose of the transfer to and from Binance is not clear yet. However, this is just one of the many large XRP token movements in the space. The announcement by Whale Alert was as follows;

“30,000,000 #XRP (7,547,336 USD) transferred from unknown wallet to #Binance. Tx: https://t.co/NWI4fXHfJU”

As Whale Alert published the update, users started commenting. Some blamed Ripple for the transaction even if the tokens weren’t sent from Ripple’s wallet. One user shared screenshots of the previous transaction from Binance stating that Binance had originally sold the 30 million tokens to the unknown wallet but is now receiving the same number of tokens. The user’s post was as follows;

“Nothing to do with Brad Garlinghouse. An account bought from binance, sent to another account and sent it back to binance. pic.twitter.com/8FNgoH2IxP”

XRP (XRP) Price Today – XRP / USD

#NamePrice24H %
3
ripple
XRP(XRP)
$0.286
-1.36%

Why the buyer sent the tokens back to Binance is not known and the exchange has not made any comments about the transaction. However, this is just one of the many XRP transactions reported by Whale Alert. A few days ago, 10 million XRP tokens were moved from Bithumb to an unknown wallet as reported by @XRPL_Monitor;

“Transaction Type: Payment

Amount: 10,000,000 XRP

Fee: 10 drops (0.00001 XRP)

Sender: bithumb

Sender Balance: 802,816,543.807417

Receiver: rDFCAUDVB5QhB61ETGT6tf8Rm1zBsj8LHU

Receiver Balance: 28,767,038.99991

Link: https://t.co/fLyqS3GHGw”

These two transactions had nothing to do with Ripple and the case is the same for the transaction that took place this morning. About 100 million XRP tokens were transferred to Ripple’s former CTO, Jed McCaleb this morning. This amounts to about $26 million in tokens. According to Whale Alert;

“100,000,000 #XRP (26,322,440 USD) transferred from Ripple to Jed McCaleb wallet. Tx: https://t.co/z0hfij5kmE”

Ripple Price Prediction – XRP Price Prediction

McCaleb, who used to be Ripple’s CTO, left the company a while ago. He and his family-owned more than 7.3 billion XRP tokens but he has been dumping his tokens since he left the company. At a point in 2018, he was reportedly dumping over 40,000 XRP tokens daily. While he reduced the pace at which he was dumping this year, there is a high chance that he will accelerate it again considering the significant number of tokens he just received. The reason for the transfer and the source of the funds is still unknowns.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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