Ripple Moves Over $1.8 Billion in XRP with Nearly Zero Transaction Fees
rippleA blockchain-based digital payments network recently completed a massive XRP transfer worth approximately $915 million with an incredibly low transaction fee of just 0.0005 XRP. This highlights one of the biggest advantages of the technology Ripple Ledger (XRPL) – Super low fees. This cost-effective trading is becoming a key reason why XRP is gaining more attention in the crypto world.
XRP lightning-fast transfer speeds at almost no cost
The recent transactions highlighted by cryptocurrency analyst Leonidas quickly captured the attention of the cryptocurrency community. 380 million XRP transferred to Wallet’rP4X2…sKxv3”, although the recipient is marked as “unknown,” data from leading XRPL browser Bithomp suggests that Ripple itself may be behind the wallet.
After the initial transfer, the receiving wallet transferred 200 million XRP worth $486 million to the new address, again with a minimum fee of 0.000015 XRP. This brings the total fee to transfer $1.88 billion worth of XRP to just $0.0013.
XRP Ledger’s efficiency makes it an attractive option for high-value transfers, especially compared to other blockchains such as Bitcoin (fees can reach $3.50 per transaction) or Ethereum (fees per transaction can Cost is approximately $1.48).
Making XRP easier to use
Even more impressive is the broader context. XRP’s fees are already the lowest among the major blockchain networks, with the average cost per transaction being $0.005145.
Ripple has also taken steps to further reduce the cost of using XRPL. Recently, the network reduced the cost of opening an XRPL account by 90%, making it easier for new users to join the network.
Impact of XRPL’s low fees on XRP price
XRP Ledger’s extremely low fees can play a significant role in increasing the value of XRP. As more people use XRP for fast and cheap transactions, demand for the coin is likely to rise. This growing interest could push the price of XRP higher in the long term, especially as more businesses and users realize the benefits of using XRPL versus other more costly networks.
With the value of XRP Already up 7% These low fees appear to have helped drive interest and demand over the past 24 hours.
