As the third-ranking mainstream currency in the market for cryptocurrency, Ripple (XRP) has recently been “very inaccessible” and has been keeping a distance from the volatility of the cryptocurrency market, whether it is in the cryptocurrency market bear market or bull market. None of them showed significant losses or growth. However, the cryptocurrency community speculates that some mysterious things are being masked in the market.
Twitter user @Cotswold Gent pointed out some of the weirdities in the XRP chart, he said:
- The end of the competition currency such as Ripple is coming soon? The Bitcoin expert believes that Facebook will eliminate the need for hundreds of competing currencies
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- Facebook is in a rush, and Ruibo is facing the giants.
- MoneyGram CEO Tan Ruibo xRapid: It’s really cool to settle the currency in a few seconds!
- Ripple bull market transcript: XRP rose nearly 30%, daily average trading volume soared twice
- Ripple promotes the follow-up investment plan with the world's second largest remittance company, focusing on enhancing the circulation of XRP
"For two years, I have been paying attention to XRP, but I have never seen a 24-hour payment that is higher than the transaction volume. Some "big things" are about to happen!!!"
Another Twitter user quickly joined in. He pointed out that in November 2018, XRP paid $1 billion. However, the impact on the market was not as obvious at the time.
Other Twitter users have guessed that this could be caused by third-party hosting. However, @Cotswold_Gent replied:
"If we haven't seen such a payment in the past 2/3 weeks, I agree with you, but now I disagree with you."
The reason for the payment volume being greater than the transaction volume may be the transfer of the third-party managed wallet and the OTC purchase. However, recent XRP transactions between various exchange wallets and unknown wallets have been considered suspicious by some.
Whale Alert, an agency that tracks large cryptocurrency transactions, sent approximately 14 XRP transfer alerts to the community, which were transferred from Ripple to multiple unknown wallet addresses. Whale Alert confirms that the sender's wallet address r9wz7EgGgMpvYqUHxVnaLhwsxohiQBcJkp is Ripple [Exchange].
The community speculates that the price of XRP may suddenly rise. However, as of press time, the price of XRP was $0.4018 and the market value was $16.95 billion. The 24-hour trading volume was $1.58 billion, with a 24-hour increase of 0.38%.