Ripple Empties 2020 Wallet of 200,000,000 XRP As Price Drops From Recent $3.65 Peak

Blockchain sleuth Whale Alert, which tracks down large cryptocurrency movements on various blockchains, has spotted yet another massive XRP transaction performed between anonymous wallets. Once again, the sender has proved to be the fintech juggernaut Ripple, which focuses on crypto.

This has been the third similar transaction detected by Whale Alert this week. Meanwhile, the third-largest cryptocurrency, XRP, affiliated with Ripple, has lost the recent $3.65 peak reached when it almost surpassed the 2018 all-time high.

Ripple shovels 200,000,000 XRP once again

According to the above-mentioned on-chain data source, a total of 200,000,005 XRP was transferred from one unknown wallet to another around three hours ago today. This was the equivalent of a staggering $700,609,232 at the time of the transaction.

Commentators under the Whale Alert’s X post assumed that whales were taking profit or, in any other case, this seemed like a preparation for something big to them. However, once again, analytics account, which tracks XRP movements, @XRPwallets, stepped in to clarify the nature of this massive XRP transfer.

The X post issued by @XRPwallets revealed that the transaction was made by Ripple from a wallet activated in 2020 with 200 million XRP. The wallet was drained completely as that XRP chunk was sent to a brand new wallet, also set up by Ripple. Earlier this week, Ripple transferred two similar XRP chunks, @XRPwallets noted.

These 200 million XRP transactions were spotted on July 22 and 21.

XRP drops 5% from recent peak

On Friday, popular cryptocurrency XRP surged to a new high of $3.65. It was very much close to the all-time high reached in January 2018.

It then declined but on Monday, XRP once again took the $3.65 high. Since then, however, the coin has seen a major decline of nearly 5%, now changing hands at $3.46 per coin.