XRP investors are growing increasingly concerned as Ripple transfers another 150 million XRP from its reserves, resulting in a 6% drop in price.
Over the past day, a total of 410,239,560 XRP ($213 million) has been moved to and from various exchanges, including Ripple, Binance, Coincheck, Bitstamp, and Bitso.
Ripple Labs is making headlines once more by transferring a massive 150 million XRP ($78 million) from its reserves, sparking worries among investors. This move comes after a similar action on June 1, when the company released 1 billion XRP from its initial distribution. Following this unexpected transfer, 200 million XRP ($104.1 million) was sent to Ripple’s treasury account (Ripple 1) from the Ripple 24 wallet.
On the same day, another 200 million XRP was transferred from the dormant wallet (Ripple 35) to the Ripple 1 account, bringing the total to 400 million XRP. According to Bithomp, Ripple now holds a reserve of 250 million XRP.
The recent transfer of 150 million XRP to