Ripple – anonymous person transfers almost 100 million XRP to Coinbase

Recently, the crypto tracking service Whale Alert announced that an anonymous person reportedly transferred nearly 100 million XRP to the crypto exchange Coinbase.

On January 26, 2021 , Whale Alert published the news via Twitter

Accordingly, an anonymous user would have transferred XRP worth an unbelievable 26,766,003 million US dollars to Coinbase. A technical analysis would have shown, however, that the donation was an internal transaction, i.e. a transaction between two Bitcoin Evolution software wallets.

Even before a possible internal transaction became known, the news made some Twitter users sit up and take notice. Many of them found the transfer, which was received anonymously, strange. Twitter user Austin Edwards said :

That makes no sense …

At the end of last year the US Securities and Exchange Commission sued Ripple and classified XRP as a security. At that time, CEO Brad Garlinghouse and former CEO and co-founder Chris Larsen had to answer for the sale of XRP as an unregistered security. BTC-ECHO reported on the incidents. A week later, Coinbase also received a lawsuit from the SEC alleging that the exchange allowed illegal XRP sales and made a profit.

Since then, many have asked whether the indictment could mean the end of the cryptocurrency , as it is likely to become increasingly difficult, especially for Americans, to find a trading venue for XRP. Despite the indictment towards the end of last year, Ripple recorded approximately three million transactions in 2020. This corresponds to a five-fold growth volume compared to the previous year. The so-called on-demand liquidity solution (ODL) from Ripple, which is responsible for 2.4 billion US dollars of the total volume, is responsible for this. According to RippleNet GM Asheesh Birla, the greatest demand for XRP is currently in Asia. For the year 2021, Ripple has set itself the goal of also carrying out transactions with B2B transactions and e-commerce payments.