$350 million worth of Bitcoin moved by a large entity as it nears $30,000

XRP, which is now the fourth most valuable crypto asset by market capitalization, has had 800 million XRP taken back from an escrow account to Ripple in an unprecedented manner.

What you should know: Whale Alert, an advanced crypto tracker, monitored this movement, which occurred in two different XRP transactions, in real-time.

READ: XRP drops 10%, biggest fall since December 4

500,000,000 #XRP (119,676,702 USD) transferred from Ripple Escrow wallet to Ripple

READ: Nigeria’s Bitcoin peer to peer trading for 2020 is $352 million

300,000,000 #XRP (72,394,894 USD) transferred from Ripple Escrow wallet to Ripple

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READ: Ripple opens last billion XRP for 2020, worth over $662 million

What this means: Such a move boosted the value of the Crypto asset by gains of over 11%, as many Crypto strategists see such as tightening XRP’s market liquidity

At the time of drafting this report, XRP  traded at $0.237552 with a daily trading volume of $5,678,463,437. XRP is up 10.98% for the day

READ: $66.5 billion worth of Bitcoin lost forever

However, a top Crypto expert, Pentoshi in a message to his followers recently via Twitter expects XRP to lose roughly half of its remaining value in the near future.

“In my opinion, the dust will settle in the next few weeks/months somewhere in-between $0.07-$0.12.Liquidity will dry up. ODL can’t be used on Bitstamp. More exchanges will halt trading.  Larger players will continue to de-risk and get rid of excess inventory. Just the way I see it.”

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Source: Nairametrics

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