On November 25th, 2022, the XRP ledger made history by setting a new record for the highest NFT purchase on the network. According to an announcement made on Twitter by onXRP, an XRP-based modular ecosystem, the transaction resulted in the sale of one of the XRPL Punk collection's Non-Fungible Tokens for 108,900 XRP. At the time of the transaction, the amount of XRP involved in the transaction was equal to $44,000, making it the highest sale on the network.
According to XRPL PUNKS' response to the announcement, the sale took place in an online auction on VC Discord, with more than 20 people in attendance. XRPL PUNKS did not reveal the identity of the person who purchased the NFT at such a high price. The Punks collection, also known as Xpunks, is one of the most popular on XRPL. In response to onXRP's official announcement, XRPL PUNKS stated:
“Was an open auction with over 20 people in VC in Discord. We don’t want to disclose the buyer’s name, but the community knows who it is :)”
The NFT line project pays homage to the already iconic NFT line, which has been dubbed the CryptoPunks collection. Only Xpunks have exchanged 1.78 million XRPs since the much-anticipated XLS-20 update was implemented to XRPL.
Price for XRP Continues to Fall
Although XRPL appears to be doing well, the price of XRP has been steadily falling to lows last seen in January 2021, prior to the start of the November 2021 Bull Run. The token price is moving in lockstep with the current bearish sentiment devouring cryptocurrency prices, which has wiped out more than $2 trillion in market valuation.
The current crypto sentiment is uncertain and volatile, as FTX's bankruptcy filing sends BTC prices below the $20k support level, which has held since June 2022.