After the last month’s Ripple (XRP) price surge, not much has been going on in the crypto world. Certainly, nothing that would significantly affect the prices of Bitcoin and its altcoins. Even Ripple action has died down almost completely, with the price of XRP only going up and down by a cent or so per day.
However, a new post on XRP ledger might change things, since it announced a huge transaction of 150 million XRP.
Mysterious transaction confuses the community
So far, the transaction was largely criticized by the Ripple community on various social networks. Since nobody really knows why did such a large transaction took place, the event resulted in a lot of rumors and discussions. The community is trying to guess why it happened, as well as what to make of it, and even what its consequences might be.
Perhaps the most curious part of the entire event is that the transaction fee did not even cost a single cent. Because of all this, many have speculated that someone may have interfered with the transaction. However, the XRP ledger responded with claims that it doesn’t have any influence over it, and that it is not responsible for anything that has occurred.
For now, the transaction remains the mystery, with the entire event being riddled with curiosity and disappointment. Many have even gone back to theories of Ripple simply using the XRP to earn money for itself, rather than to provide opportunities for legitimate investors. Some even questioned the asset, and openly wondered if its sole purpose is to bring a better financial standing for Ripple Labs.
These allegations are nothing new for Ripple Labs, or for XRP. In fact, quite a lot of controversy surrounded both in the recent years. However, since nothing like this can be proven, and the company continues to deny such claims, the optimists continue to invest in Ripple as usual.
Transaction remains mysterious and suspicious
Following the transaction, XRPL Monitor released a tweet with information regarding the transaction.
Transaction Type: Payment
Amount: 150,000,000 XRP
Fee: 5,000 drops (0.005 XRP)
Sender Balance: 800,000,199.868
Receiver Balance: 195,700,027.229249
— XRPL Monitor (@XRPL_Monitor) October 5, 2018
Based on this information, some members of the XRP community started suspecting that the transaction was made by the coin’s founders. Others believe that the responsible parties might include Jeb McCaleb or Chris Larsen. However, everyone agrees that no matter who is responsible, the transaction was made at the time when Ripple is suspected of having the ability to sway the entire platform via a single transaction.
Ripple CEO, Brad Garlinghouse, recently spoke during the Swell 2018 event. During his speech, he tried really hard to persuade XRP investors that Ripple is truly decentralized. He also addressed the rumors regarding XRP, claiming that they are nothing but a method to damage the platform’s reputation.
As for the issue of decentralization, Garlinghouse admitted that not even he has the power (nor rights) to impact the XRP ledger in any way.
With all the new controversy and mystery regarding activities on the XRP ledger, it would not be surprising if investors decided to distance themselves from Ripple. However, this doesn’t seem to be the case. In fact, numerous experts still claim that Ripple price will rise before the year ends. This kind of prediction is likely possible due to all the partnerships and deals that Ripple has entered throughout the year.
At the moment, the price of XRP remains at $0.515620, with a 0.13% drop in the last 24 hours, Whether the price will spike up as experts are announcing still remains to be seen.