Ripple, a company that uses technology to transfer money internationally, sent 46. 34 million XRP tokens (a type of digital currency) worth about $24. 75 million to a wallet that we don’t know much about.
Ripple moved 46 million XRP tokens.
The Whale Alert report showed that a large amount of money from Ripple was transferred from their official address to an unknown wallet called “rP4X2. ”
46,340,000 XRP, worth 24,746,250 USD, was sent from Ripple to an unknown wallet.
Whale Alert on January 30, 2024
The wallet appeared last October and got noticed because it had a lot of XRP money in it. It is believed that this wallet is connected to XRP’s ODL systems. In simple terms, people believe that the transfer is only for moving within the company and not for selling.
While Ripple does this surprising transaction, the XRP token’s market performance stays steady. The value of the token went down a lot in the last few weeks and it reached an important level of $0. 50
In the past, this point has been a good place for XRP to bounce back. But right now, the market is uncertain and people are scared, so it’s hard to know where XRP is going.
February has been a bad month for the XRP price in the past. It starts in two days.
Good market conditions might help XRP to stop dropping in price for now, but because the market is uncertain, people should be careful about investing.
This isn’t advice about investing.