, 2022-12-11 01:34:02,
- Ripple whale moved 143 million XRP as December large-transfer season resumed
- XRP’s on-chain status displayed scars all over as the network growth and circulation were in shambles
Confidence in the midst of unending turbulence is usually a rare case but not for Ripple [XRP] whales. One of these large investors once again showed conviction in transacting via the network as 143 million XRP changed wallets. According to Whale Alert, this token movement amounted to $55.96 million.
— Whale Alert (@whale_alert) December 9, 2022
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Before this stunning transaction, the whale tracking profile had repeatedly mentioned some notable XRP transfer. In December 2022 alone, over 100 million XPR had moved wallets prior to the aforementioned transaction.
Can’t grow no more
Following the development, Ripple’s network growth was unable to fetch a recovery. According to Santiment, the network growth had been on a free fall since 4 December. At press time, it had dropped to 611.
An evaluation of this situation showed that very few new addresses were interacting with the Ripple chain. Thus, it was more of whales doing the accumulation and transaction bidding as retail investors stood as onlookers.
With regards to supply, the on-chain platforms showed XRP’s supply outside of…
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