Ripple moves millions of XRP on-chain as potential reasons spark new thesis
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Just before publishing, a massive sum of 409,776,402 XRP valued at $201,627,816 was moved from Bitvavo to an unknown wallet. These XRP in motion are sparking sell-off fears even though their real intentions remain unknown to the industry. At the time of writing, XRP is, as expected, buckling under sell-off pressure, with the price pegged at $0.492, down 0.32% over the past 24 hours. While the downturn was perpetrated by the Some of the prior XRP transactions from Ripple Labs are well known, and considering the legal intricacies surrounding the digital currency, the likelihood of a sell-off remains low. This can notably help allay fears and stabilize the price of the asset moving forward.
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