en
Back to the list

595 Million Ripple (XRP) On The Move In 24 Hours


thecryptobasic.com 05 August 2022 09:30, UTC
Reading time: ~3 m

Large movements of XRP have continued to be recorded lately.


As interest in Ripple’s On-Demand Liquidity (ODL) increases, there has been a large movement of multimillion-dollar XRP transfers this month. 

The funds have flowed around popular cryptocurrency exchanges, including selected members of Ripple’s ecosystem Bitso and Bitstamp, as well as unknown wallets. 

Cryptocurrency whale tracking service Whale Alert has shared developments about hundreds of millions of XRP movements involving unknown wallets and cryptocurrency exchanges since the beginning of this week. 

XRP Movement Around Exchanges and Unknown Wallets

Over the last 24 hours, the popular cryptocurrency whale tracking service reported that a total of 595,256,914 (595.26 million) XRP coins had been transferred between exchanges and unknown wallets. 

First, 32 million XRP worth $11.84 million were moved from an unknown wallet to the Bitstamp exchange. 

🚨 32,000,000 #XRP (11,838,226 USD) transferred from unknown wallet to #Bitstamphttps://t.co/BetrTJcxWI

— Whale Alert (@whale_alert) August 4, 2022

At the same time, 27.5 million XRP ($10.11 million) were transferred from OkeX to an unknown wallet. 

🚨 27,500,000 #XRP (10,112,600 USD) transferred from #OkeX to unknown wallethttps://t.co/W58CXnUynl

— Whale Alert (@whale_alert) August 4, 2022

After a while, Whale Alert shared data of another large XRP movement, which saw a total of 134.75 million Ripple coins ($50.1 million) moved from an unknown wallet to another unknown wallet. 

🚨 🚨 🚨 🚨 🚨 134,750,000 #XRP (50,097,138 USD) transferred from unknown wallet to unknown wallethttps://t.co/O5rS6rLJN3

— Whale Alert (@whale_alert) August 4, 2022

Another large XRP transaction was also recorded a few hours later. This time, a total of 200 million XRP ($74.68 million) were transferred between the unknown wallets. 

🚨 🚨 🚨 🚨 🚨 🚨 🚨 200,000,000 #XRP (74,678,431 USD) transferred from unknown wallet to unknown wallethttps://t.co/hOBmtHc1nA

— Whale Alert (@whale_alert) August 5, 2022

In the early hours of today, Whale Alert reported that 60 million XRP ($22.48 million) were transferred from an unknown wallet to Bitstamp. Another 60 million XRP ($22.48 million) was also sent from an anonymous address to Bitso. 

🚨 🚨 60,000,000 #XRP (22,482,609 USD) transferred from unknown wallet to #Bitstamphttps://t.co/3JEGrtwdSp

— Whale Alert (@whale_alert) August 5, 2022

🚨 🚨 60,000,000 #XRP (22,482,609 USD) transferred from unknown wallet to #Bitsohttps://t.co/EVgaZqfZoc

— Whale Alert (@whale_alert) August 5, 2022

An additional 30 million XRP coins worth $11.21 million at the time of the transaction were also sent to Bitso by an unknown wallet. 

🚨 30,000,000 #XRP (11,215,776 USD) transferred from unknown wallet to #Bitsohttps://t.co/T1QCI8A2aX

— Whale Alert (@whale_alert) August 5, 2022

Immediately after these transactions, Whale Alert noted that a total of 51,006,914 (51 million) XRP, worth $19.1 million, were sent from the Bitstamp exchange to an unknown wallet. 

🚨 51,006,914 #XRP (19,112,809 USD) transferred from #Bitstamp to unknown wallethttps://t.co/XFy8LhIsT7

— Whale Alert (@whale_alert) August 5, 2022

Whale XRP Transactions Soars Amid Rising ODL Demand

Large XRP transactions have been frequent in recent times. This comes as Ripple disclosed in its Q2, 2022 financial report that more clients are increasingly demanding ODL solutions

As reported by TheCryptoBasic, Ripple noted that it sold $408.9 million worth of XRP to ODL customers as ODL volume surged 9x YoY. 


   Source
Back to the list