One of the world’s leading blockchain-based payment companies Ripple Labs has been observed making large XRP transactions amid the crypto asset’s recovery from a decline earlier this week.
Ripple Transfers Massive XRP Tokens To Exchanges
According to reports from on-chain crypto tracker Whale Alert, the firm recently performed three massive transfers of XRP. The tracker took to X (formerly Twitter) to alert the crypto community about the whale transfer as each one was made.
The massive XRP transfer coincides with the cryptocurrency’s significant comeback, following nearly two days of bearish decline. The first transfer which is the biggest saw about 120,000,000 XRP moved, valued at $73,838,616 as of the time of the transfer.
The funds were transferred from one of Ripple Labs’ wallets to another – a frequent practice for the company. Since the firm activated this receiving wallet in October, several transaction inflows and outflows from other wallets have been conducted.
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