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Another large volume of XRP flowed among exchanges, Ripple, and unknown wallets.
The rising demand for Ripple’s On-Demand Liquidity (ODL) solution is still fueling the large movement of XRP between cryptocurrency exchanges and unknown wallets.
Over the week, more than a billion XRP have moved between unknown wallets and cryptocurrency exchanges. Yesterday, nearly 600 million XRP tokens were transferred in multiple transactions, 224M on the 3rd of August and 172 Million on the 2nd of August, and 224M today.
Whale Alert, a leading crypto whale tracking service, continues to share details of more of these transactions. In the last 24 hours, a total of 243,935,767 million (243.93 million) XRP coins have flowed among Ripple, cryptocurrency exchange, and unknown wallets.
As reported by Whale Alert, 40 million XRP, worth $15 million, were sent from an unknown wallet to Bitstamp.
🚨 40,000,000 #XRP (15,000,616 USD) transferred from unknown wallet to #Bitstamphttps://t.co/y4qMCymGLb
— Whale Alert (@whale_alert) August 5, 2022
The Luxembourg-based cryptocurrency exchange has been the major party to these large XRP movements in recent times. It is noteworthy that Bitstamp was the exchange former Ripple CTO used to offload his last XRP holdings.
A few hours later, Whale Alert also observed another large XRP movement from an unknown wallet to the exchange. This time, 30 million XRP coins worth $11.29 million were transferred from the anonymous wallet to Bitstamp.
🚨 30,000,000 #XRP (11,293,836 USD) transferred from unknown wallet to #Bitstamphttps://t.co/FzRq6RZPEJ
— Whale Alert (@whale_alert) August 5, 2022
Interestingly, the Silicon Valley tech company was also involved in the latest series of large XRP transactions. According to Whale Alert, Ripple transferred a whopping 50 million XRP coins ($18.67 million) to an unknown address.
🚨 50,000,000 #XRP (18,671,850 USD) transferred from Ripple to unknown wallethttps://t.co/6XrJPhphDa
— Whale Alert (@whale_alert) August 5, 2022
Although the owner of the wallet is unknown, it is believed that the funds were sent to an ODL client.
More Large XRP Movements
Furthermore, 30 million XRP tokens, worth $11.29 million, were observed by Whale Alert to have flowed from an unknown wallet to Bitso exchange, a member of Ripple’s ecosystem.
🚨 30,000,000 #XRP (11,293,836 USD) transferred from unknown wallet to #Bitsohttps://t.co/PoQ6T4aUEe
— Whale Alert (@whale_alert) August 5, 2022
Again, Bitstamp was involved in another large XRP movement in the last 24 hours. This time, the funds moved from the exchange to an unknown wallet.
Per Whale Alert, 63,935,767 (63.9 million) XRP coins were transferred from the Bitstamp exchange to an unknown wallet. At the time of the transaction, the coins were worth approximately $24.08 million.
🚨 🚨 63,935,767 #XRP (24,047,698 USD) transferred from #Bitstamp to unknown wallethttps://t.co/wBoZFLQOcJ
— Whale Alert (@whale_alert) August 5, 2022
Additionally, 30 million XRP coins, worth around $11.16 million, were also seen to have flowed from Bitso to an unknown wallet.
🚨 30,000,000 #XRP (11,161,282 USD) transferred from #Bitso to unknown wallethttps://t.co/V5iDYQty4H
— Whale Alert (@whale_alert) August 5, 2022