Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain
  • Web 3
    • NFT
    • Metaverse
  • Regulation
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Mastermind Behind Sec Sim -exchange schedule sentenced to 14 months in prison for manipulating Bitcoin price

2025-05-18

Dogecoin Prise Tests Panic zone at $ 0.21, the breakdown can lead to price crash

2025-05-18

Bitcoin: This indicator reflects 2024’s Bull Run – will history repeat?

2025-05-18
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
Facebook X (Twitter) Instagram
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain

    Declan Hannon about how Aurora Labs makes blockchain accessible to everyone

    2025-05-18

    Ailayer forges Alliance with Gaea to create a decentralized AI-driven metaverse

    2025-05-18

    Space and time, Nvidia, publishes Sub-Second ZK Prover for SQL

    2025-05-18

    Interview with Nieuwe Lukso Coo

    2025-05-18

    B2 Network brings AI to Bitcoin with DSN-AI Rollup Protocol

    2025-05-18
  • Web 3
    • NFT
    • Metaverse
  • Regulation

    Mastermind Behind Sec Sim -exchange schedule sentenced to 14 months in prison for manipulating Bitcoin price

    2025-05-18

    Capital One pays $ 425,000,000 to customers after they have reportedly cheated customers from a higher return on bank balance

    2025-05-18

    Myth or reality? Mica and its real impact on the market that dissolve common misconceptions

    2025-05-18

    Judge denies joint bid from Ripple and the SEC to end their long -term legal battle to end XRP

    2025-05-17

    A dozen new defendants who were sued in the alleged Rico -entry, connected to $ 263,000,000 crypto theft

    2025-05-17
  • Analysis

    The American stock market now looks more favorable than pre-trade war, according to Tom Lee from Fundstrat-Dit why is why

    2025-05-18

    Analyst who mentioned XRP price mark at $ 0.5 says that the increase in this level is coming

    2025-05-17

    Michael Burry van Big Short abruptly sells one ‘recession-proof’ assets

    2025-05-17

    $ 40 billion in XRP on the road – where are they going?

    2025-05-17

    Bitcoin who sees heavy accumulation on Coinbase and Binance, says analysis company Glassnode – here is the prospects

    2025-05-17
  • Learn

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-09
  • Blog
  • Contact
    • Tech7685@gmail.com
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Analysis»Is Ripple Dumping Millions of XRP? CTO tackles the reasons behind a $34 million transaction
Analysis

Is Ripple Dumping Millions of XRP? CTO tackles the reasons behind a $34 million transaction

2024-02-22No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Ripple always has been subject to claims of manipulating the price of XRP and its natural growth by selling coins. As the largest holder of the cryptocurrency, Ripple has faced constant criticism of the cryptocurrency amount of XRP it containswith opponents claiming it gives them too much control and influence over the price.

There has been some drama surrounding the altcoin lately, with claims that Ripple has been manipulating the market and systematically dumping its large holdings. This comes in light of a large transfer of 60 million XRP tokens from Ripple to an unknown wallet address.

Ripple accused of dumping XRP and manipulating the market

Whale transaction tracker Whale Alerts recently posted on social media a transfer of 60 million XRP worth $34 million from a Ripple-controlled wallet address to a private address. Looking further, we see that the private recipient wallet currently holds over 138 million XRP worth $75.5 million, while this same address will receive 80 million XRP from Ripple on February 11.

🚨 🚨 60,000,000 #XRP (USD 34,088,291) transferred from #Ripple to unknown wallethttps://t.co/zfHG8o0Bbo

— Whale Alert (@whale_alert) February 20, 2024

At the time of writing, Ripple controls approximately 6% of the current circulating supply. Therefore, it is only natural that large transactions like this one from Ripple would create waves in the market and lead to speculation. Consequently, the large transfers have reignited claims of Ripple selling off its assets in the meantime continued consolidation in the price of XRP.

Moreover, the debates over the programmatic selling of XRP have resurfaced as history shows that this is not new to Ripple. According to data shared by a social media user, Jim_Knox, Ripple is said to have supplied XRP to three market makers in 2017 for the purpose of market selling, resulting in a price suppression of the cryptocurrency during that specific period. Additionally, recent allegations have taken root that Ripple is using what it called the 4t and 6t bots to make programmatic sales to exchanges.

See also  MicroStrategy now owns 450,000 BTC after last purchasing $243,000,000 worth of BTC

Ripple CTO addresses concerns

Ripple CTO David Schwartz took to a social media discussion to address the rumors of price manipulation. A member of the XRP community had shared a meme suggesting that Ripple’s 4t and 6t bots have always prevented the price of XRP from rising, keeping it at the $0.50 level.

However, Schwartz pointed out that Ripple has halted programmatic sales of XRP, where the company only sells its assets through ODL transactions. The ODL transaction method is Ripple’s unique payment solution that enables instant cross-border transactions. On the other hand, concerns about Ripple’s recent large transactions to unknown wallets have yet to be allayed, and at this point it all remains speculative.

XRP is trading at $0.5463 at the time of writing, down 0.50% in the past 24 hours, but still maintaining a measly 2% gain over 30 days. Recent transaction warnings from Whale Alerts have shown large amounts of XRP leaving behind private wallets to crypto exchanges, which indicates potential sell-out.

XRP price chart from Tradingview.com (Ripple CTO)

Token price stalls at $0.54 | Source: XRPUSD on Tradingview.com

Featured image from U.Today, chart from Tradingview.com

Disclaimer: The article is for educational purposes only. It does not represent NewsBTC’s views on buying, selling or holding investments and of course investing involves risks. You are advised to conduct your own research before making any investment decisions. Use the information on this website entirely at your own risk.



Source link

CTO Dumping Million millions Reasons Ripple tackles Transaction XRP
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

XRP price that runs the risk of crashing 50%, here is why

2025-05-18

The American stock market now looks more favorable than pre-trade war, according to Tom Lee from Fundstrat-Dit why is why

2025-05-18

Judge denies joint bid from Ripple and the SEC to end their long -term legal battle to end XRP

2025-05-17

Analyst who mentioned XRP price mark at $ 0.5 says that the increase in this level is coming

2025-05-17
Add A Comment

Comments are closed.

Top Posts

Bitcoin: Stock Markets See $40 Million Daily USDT Surge – Is BTC’s Rally Just Getting Started?

2024-12-20

The Web3 version of Discord

2024-06-04

110 BAYC and 111 MAYC NFTs Near Liquidation – Take Action Now!

2023-08-21
Editors Picks

Litecoin will shrug off recent gains as the selloff intensifies

2023-08-21

Justin Bieber’s producer sells royalties for song ‘Company’ as NFTs

2023-09-06

2025’s crypto Shake-up: How memecoins, stablecoins surpass Ethereum

2025-02-08

What Cardano Investors Should Do to Enjoy Profits

2024-02-04

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Mastermind Behind Sec Sim -exchange schedule sentenced to 14 months in prison for manipulating Bitcoin price

Dogecoin Prise Tests Panic zone at $ 0.21, the breakdown can lead to price crash

Bitcoin: This indicator reflects 2024’s Bull Run – will history repeat?

Get Informed

Subscribe to Updates

Get the latest news and Update from Bitcoin Platform about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
© 2025 Bitcoinplatform.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$105,701.272.42%
  • ethereumEthereum(ETH)$2,450.54-1.11%
  • tetherTether USDt(USDT)$1.000.02%
  • rippleXRP(XRP)$2.412.40%
  • binancecoinBNB(BNB)$647.861.24%
  • solanaSolana(SOL)$171.053.01%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2296776.89%
  • cardanoCardano(ADA)$0.751.08%
  • tronTRON(TRX)$0.266436-1.14%
  • suiSui(SUI)$3.851.17%
  • chainlinkChainlink(LINK)$15.672.11%
  • avalanche-2Avalanche(AVAX)$22.691.92%
  • stellarStellar(XLM)$0.2915141.93%
  • hyperliquidHyperliquid(HYPE)$26.813.89%
  • shiba-inuShiba Inu(SHIB)$0.0000154.21%
  • hedera-hashgraphHedera(HBAR)$0.1950152.15%
  • bitcoin-cashBitcoin Cash(BCH)$404.443.25%
  • unus-sed-leoUNUS SED LEO(LEO)$8.65-3.25%
  • the-open-networkToncoin(TON)$3.131.64%
  • litecoinLitecoin(LTC)$99.793.34%
  • polkadotPolkadot(DOT)$4.722.19%
  • moneroMonero(XMR)$336.800.69%
  • bitget-tokenBitget Token(BGB)$5.143.51%
  • pepePepe(PEPE)$0.0000139.72%
  • daiDai(DAI)$1.00-0.02%
  • piPi(PI)$0.747.16%
  • ethena-usdeEthena USDe(USDE)$1.000.00%
  • uniswapUniswap(UNI)$6.024.83%
  • bittensorBittensor(TAO)$417.77-1.52%
  • aaveAave(AAVE)$227.562.22%
  • nearNEAR Protocol(NEAR)$2.793.56%
  • aptosAptos(APT)$5.120.64%
  • okbOKB(OKB)$52.89-0.58%
  • ondo-financeOndo(ONDO)$0.942.88%
  • kaspaKaspa(KAS)$0.1107821.36%
  • ethereum-classicEthereum Classic(ETC)$18.481.86%
  • internet-computerInternet Computer(ICP)$5.241.65%
  • gatechain-tokenGateToken(GT)$21.700.53%
  • crypto-com-chainCronos(CRO)$0.0985430.92%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.093.94%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2387732.90%
  • mantleMantle(MNT)$0.741.48%
  • vechainVeChain(VET)$0.0285713.06%
  • render-tokenRender(RENDER)$4.601.34%
  • ethenaEthena(ENA)$0.3802398.36%
  • usd1World Liberty Financial USD(USD1)$1.000.01%
  • algorandAlgorand(ALGO)$0.2241514.11%
  • filecoinFilecoin(FIL)$2.872.74%
  • cosmosCosmos(ATOM)$4.883.15%
  • bitcoinBitcoin(BTC)$105,701.272.42%
  • ethereumEthereum(ETH)$2,450.54-1.11%
  • tetherTether USDt(USDT)$1.000.02%
  • rippleXRP(XRP)$2.412.40%
  • binancecoinBNB(BNB)$647.861.24%
  • solanaSolana(SOL)$171.053.01%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2296776.89%
  • cardanoCardano(ADA)$0.751.08%
  • tronTRON(TRX)$0.266436-1.14%
  • suiSui(SUI)$3.851.17%
  • chainlinkChainlink(LINK)$15.672.11%
  • avalanche-2Avalanche(AVAX)$22.691.92%
  • stellarStellar(XLM)$0.2915141.93%
  • hyperliquidHyperliquid(HYPE)$26.813.89%
  • shiba-inuShiba Inu(SHIB)$0.0000154.21%
  • hedera-hashgraphHedera(HBAR)$0.1950152.15%
  • bitcoin-cashBitcoin Cash(BCH)$404.443.25%
  • unus-sed-leoUNUS SED LEO(LEO)$8.65-3.25%
  • the-open-networkToncoin(TON)$3.131.64%
  • litecoinLitecoin(LTC)$99.793.34%
  • polkadotPolkadot(DOT)$4.722.19%
  • moneroMonero(XMR)$336.800.69%
  • bitget-tokenBitget Token(BGB)$5.143.51%
  • pepePepe(PEPE)$0.0000139.72%
  • daiDai(DAI)$1.00-0.02%
  • piPi(PI)$0.747.16%
  • ethena-usdeEthena USDe(USDE)$1.000.00%
  • uniswapUniswap(UNI)$6.024.83%
  • bittensorBittensor(TAO)$417.77-1.52%
  • aaveAave(AAVE)$227.562.22%
  • nearNEAR Protocol(NEAR)$2.793.56%
  • aptosAptos(APT)$5.120.64%
  • okbOKB(OKB)$52.89-0.58%
  • ondo-financeOndo(ONDO)$0.942.88%
  • kaspaKaspa(KAS)$0.1107821.36%
  • ethereum-classicEthereum Classic(ETC)$18.481.86%
  • internet-computerInternet Computer(ICP)$5.241.65%
  • gatechain-tokenGateToken(GT)$21.700.53%
  • crypto-com-chainCronos(CRO)$0.0985430.92%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.093.94%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2387732.90%
  • mantleMantle(MNT)$0.741.48%
  • vechainVeChain(VET)$0.0285713.06%
  • render-tokenRender(RENDER)$4.601.34%
  • ethenaEthena(ENA)$0.3802398.36%
  • usd1World Liberty Financial USD(USD1)$1.000.01%
  • algorandAlgorand(ALGO)$0.2241514.11%
  • filecoinFilecoin(FIL)$2.872.74%
  • cosmosCosmos(ATOM)$4.883.15%