XRP price jumped more than 10% in the last 24 hours after a rise in demand from retail investors. Anonymous XRP transactions are also on the rise amid price growth as an unknown user moved 745 million coins to an unidentified crypto wallet.
According to the latest data published by the blockchain tracking and analytics firm, Whale Alert, an unknown whale transferred $330 million worth of XRP tokens on 15 March at 20:34 UTC. As of writing, the cryptocurrency is trading around $0.47 with a market cap of more than $21 billion.
XRP is the 7th largest cryptocurrency in the world. The digital asset is up more than 100% since the start of 2021. The cryptocurrency has erased all losses caused by the SEC’s lawsuit against Ripple and its executives in December 2020.
Despite the recent delisting announcements by digital exchanges around the world, the institutional interest in the 7th largest cryptocurrency has increased substantially during the last few months. According to a report published by CPA Australia, the central bank of France is actively considering XRP Ledger as a potential platform for the launch of a central bank digital currency.
XRP and Ripple
Ripple, the San Francisco-based blockchain firm, announced earlier this month that the company is testing a private version of the XRP Ledger to support central banks in the issuance of central bank digital currencies (CBDCs). The SEC termed XRP as a security in December last year and filed a lawsuit against Ripple Labs and its two executives including CEO, Brad Garlinghouse. The crypto market reacted negatively to the news and digital currencies lost nearly $50 billion in market cap following the SEC’s announcement. Around 6,000 XRP holders have attempted to insert themselves as third-party defendants in the lawsuit.
Anonymous cryptocurrency transactions have been on the rise for the last few weeks. On 16 February 2021, an anonymous crypto user moved nearly 220 million XRP from digital exchange Coinbase to an unknown wallet.