Crypto Twitter was horrified at the fact that anyone wasted about $4,480 on an XRP purchase. A tweet from the Flare Community called attention to a trade that had taken place a few days before. An anonymous person charged more than 10,000 XRP worth more than $4K for an XRP Ledger purchase. The group released a tweet in response to an XRP enthusiast who received an XRPL transaction fee of 1.04 XRP.
Flare’s network clarified that charges on the #XRPL can be set programmatically, but they were not sure why “someone would burn XRP needlessly.”
According to the crypto monitoring company, Whale Alert 30,999,980 XRP, worth $13,481,945, was moved from an undisclosed wallet to Coinbase at the time. A total of 66 million XRP coins, worth $30 million, have been transported.
The XRP transactions happened internally between the Coinbase wallets. It should be remembered that on 30 December 2020, Coinbase reported that it had stopped dealing with XRP following the US Securities and Exchange Commission case against Ripple. Trading XRP was scheduled to be discontinued in full on Tuesday, January 19, 2021. However, traders can withdraw and access XRP in their Coinbase wallet even after suspension.
Whale Alert followed another curious deal, part of a settlement between Ripple and its former CTO, Jed McCaleb. About 6 million XRPs worth $277,683,138 were moved from the “Jed McCaleb Settlement” wallet to his TacoStand address on 2 March.
Former Ripple Boss, who actively sold his XRP stash, apparently has more than 2 billion XRP left in cold storage. According to one observer, if McCaleb continued to sell huge volumes of XRP from his pocket, his wallet would be depleted by May.
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