- $27.5 Million Worth of XRP Sent to a Market-Making Company
- Ripple’s Swell Conference Ends Quietly
According to recent reports relating to Ripple’s XRP, no less than $27.5 million worth of the network’s native token, was transferred to a market-making firm. The XRP news came to light several tweets that described how the transactions occurred. This happened after a crypto bot on Twitter picked up on the major transfer. Per the XRP news, the transaction which was classified as payment was about 99,999,900 XRP coins. It is understood that the funds were sent to a company that specialized in market-making. The twitter bot is the XRPL Monitor.
Ripple’s Swell Conference Ends Quietly
From the Ripple news today, the XRP payment was reported by the XRPL Monitor earlier in the day. The bot is reportedly responsible for giving followers of escrow notifications for crypto transactions what over 100,000 XRP. As of press time, it is still unclear which market-making company was the recipient of the 99,999,900 XRP. Whether Ripple’s team has set a specific amount of XRP for these types of payments remains to be seen. Recall that Ripple recently held its Swell Conference for this year. The conference is usually held on an annual basis. While experts expected the meeting to have a positive impact on the price action of XRP. Because, many of them were expecting the asset to enjoy a major price increase in the build-up to the occasion, whatever gains XRP posted were relatively small.
XRP (XRP) Price Today – XRP / USD
Name Price 24H % $0.875
According to an earlier XRP news, the top crypto asset failed to increase its value before the conference was held from November 7 through November 9. Ripple fans were probably expecting a major announcement as is always the case at this year’s edition of the Swell conference. They were left disappointed. They were no announcements. There wasn’t any room for hype in the build-up to the event.
Although it was a strong showing, this year’s Swell conference was a failure as it didn’t impact XRP’s market action. That being said, it appears the digital asset is on course to post a potential bullish divergence via the RSI as today’s XRP price prediction shows. Experts are expecting a bullish cross via the MACD pattern. As of when this report was published, the price of XRP has stayed stable at $0.273. The XRP price prediction from the last time has played out. Ripple’s XRP has an impressive trading volume of $1.3 billion. It appears the market-maker might find it difficult to make a dent in the XRP market.