Crypto Whales Amass 150M XRP as XRPL Unveils Game-Changing Proposal!
hot stories

Crypto Whales Amass 150M XRP as XRPL Unveils Game-Changing Proposal!

written by John Murphy | April 11, 2023

In recent news, it has been reported that Crypto Whales have scooped up 150 million XRP, just as the XRPL (XRP Ledger) drops a new proposal. This news has caused quite a stir in the cryptocurrency community, and many are wondering what this could mean for the future of XRP.

XRP, also known as the XRP token, is the native digital asset of the XRP Ledger (XRPL). The XRP Ledger is a decentralized blockchain technology that was created by Ripple Labs in 2012.

Key Takeaways:

  • Crypto whales bought 150 million XRP tokens, causing a stir in the crypto community.
  • The purchase may be linked to the XRPL’s new Hooks feature, improving its performance and scalability.
  • XRP’s value increased due to anticipation of a favorable outcome in the SEC lawsuit against Ripple.
  • Whale addresses added over 146 million XRP in transactions in the previous day.
  • XRP can be secured using a compatible wallet, such as Ledger XRP or XRP Ledger Live.

The Blockchain Watchers took to Twitter to make an announcement, sharing important news with her followers that it was reported that a group of large XRP holders, also known as “whales“, had purchased 150 million XRP tokens from the open market.

This news came as the XRP Ledger (XRPL) dropped a new proposal called Hooks which is aimed at improving the performance and scalability of the XRPL.

The XRPL DEX (Decentralized Exchange) is a decentralized exchange built on the XRP Ledger. It allows users to trade XRP and other assets in a decentralized, peer-to-peer manner, without the need for a centralized intermediary.

The recent accumulation of XRP by crypto whales may be linked to the XRPL’s new Hooks feature, which was introduced in October 2021.

Hooks allow developers to create smart contracts on the XRPL, which can be used to automate various functions and execute transactions.

Source: cryptocomes

Crypto411 made an announcement on Twitter about the recent news of crypto whales buying 150 million XRP tokens, combined with the release of the proposal by the XRP Ledger, which has contributed to an upward trend in the value of XRP.

However, another significant factor driving XRP’s recent rise in value is the anticipation of a favorable outcome in a lawsuit filed against Ripple by the U.S. Securities and Exchange Commission (SEC).

According to the information given by WhaleAlert, whale addresses added more than 146 million XRP (about worth $77 million) in many transactions throughout the previous day.

Pavel Nosok makes an announcement on Twitter that a group of large XRP holders, known as crypto whales, bought 150 million XRP tokens as the XRP Ledger (XRPL) released a new proposal aimed at improving the XRPL’s performance and scalability.

The whale purchase and proposal release suggest continued investor interest in XRP and XRPL’s evolution and improvement over time.

So, to handle and secure the XRP token, a wallet compatible with XRP is needed. Ledger provides the ideal solution named XRP wallet.

By using this wallet, Tokens are secured or managed on regular basis, and HODL. An XRP wallet is a digital wallet that allows users to store, send, and receive XRP.

XRP tokens are also secured by using desktop wallets like XRP ledger live. These wallets are installed on the desktop and the private keys are used to access the wallet. Anybody with a web browser may access it directly using the source code accessible on this page.