228 Mln XRP Transfer Detected, Ripple Wires One Third of It

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Tue, 03/31/2020 - 09:56
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Yuri Molchan
A staggering $38,167,200 in XRP was wired over the past few hours. Approximately one third of it was sent by Ripple to an unknown destination
228 Mln XRP Transfer Detected, Ripple Wires One Third of It
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228 mln XRP was sent over the past several hours. The blockchain giant Ripple, which owns over half of the total XRP supply, has sent 74 mln XRP from this sum to an anonymous digital wallet.

The rest of the 228 mln XRP also went to unknown destinations. Meanwhile, a major SCB bank app in Thailand now sends money via RippleNet.

228 mln XRP wired with partial Ripple involvement

The Twitter bot XRPL Monitor has detected a mammoth-sized amount of XRP transferred over the last four hours – totaling $38,167,200.

Around one third of it – 74 mln XRP – was sent from Ripple’s OTC Distribution wallet, as pointed out by Whale Alert, to an unknown destination.

The data from the Bithomp analytical website says that the money went to a BitGo wallet - a major service working with institutional customers and offering custodial services to them. Among its clients is the Bitstamp crypto exchange.

XRP
Image via Twitter

As of late, the XRP price has surged to the $0.17 level (as per data from CoinMarketCap) where it has been holding so far. Investors’ interest in the third-largest currency has recently been growing along with its price.

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Major Thai bank app now runs on Ripple

A while ago, Ripple wrote on its website that a major partner of RippleNet in Thailand – Siam Commercial Bank (SCB) – had launched Ripple-based transactions for his customers. Now, the bank is spreading the word about having launched XRP-based transfers on its SCB Easy app.

The bank’s website states that Ripple-based payments via SCB Easy will take from a few seconds to a maximum of three days to arrive directly to a customer's bank account (depending on the destination country).

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.