XRP Transfer Detected: 228 Million Coins Sent To Anonymous Wallet

Another primary XRP transfer detected over the past several hours, where 228 million coins were sent from the blockchain giant Ripple to an anonymous digital wallet, so let’s find out more in the Ripple cryptocurrency news.

The rest of the 228 million XRP went into a few other destinations, while the significant SCB bank app in Thailand started sending money via RippleNET. The Twitter both XPRL Monitor noticed the XRP transfer, and about a third of the sum was sent from the Ripple OTC distribution wallet as per the report by Whale Alert.

The data from the Bithomp analytical website stated that the money went into BitGo dedicated wallet, which is a significant service working with institutional customers and offering custodial services as well. Among the more prominent clients is the Bitstamp crypto exchange. After that, the XRP price surged to a new level of $0.17, where it has been holding for the investors, and the interest for the third biggest cryptocurrency started growing again. Ripple also wrote that a significant partner of RippleNET in Thailand, which is the Siam Commercial Bank, launched a Ripple-based transaction network for its customers.

All of the users are now aware that the bank launched an XRP-based transfer on the SCB Easy app. The website of the bank stated that Ripple-based payments with the app would only take a few seconds up to three days to arrive at the customers’ bank account, depending on the destination.

Over the past few days, Ripple faced increased selling pressure from the $0.1750 zone, and the XRP price broke a few other essential supports close to the $0.1720 level to move into a further bearish area. The bears also gained much traction, and they succeeded in gathering momentum below the $0.1680 level and the 100 hourly simple moving average. Hence, the price reached new lows of $0.1620, while the Ripple correction continues higher. The MACD per hour for the XRP/USD pair is moving slowly into the bullish territory while the hourly relative strength index for the couple is recovering and moving further to the 50 levels. Ripple has been following the market conditions so far, which remain harsh for most of the altcoins due to the worldwide COVID-19 pandemic.