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240 Million XRP Shifted by Ripple and This Leading Global Exchange

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Wed, 01/12/2022 - 11:46
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Yuri Molchan
Almost 250 million XRP have been sent by Ripple and a major crypto exchange in several large transfers
240 Million XRP Shifted by Ripple and This Leading Global Exchange
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Popular crypto tracking service Whale Alert has spotted five large transactions, carrying a total of 240 million XRP tokens over the past 24 hours. Part of them was sent by Ripple tech giant.

Meanwhile, XRP can now be sent in a much easier way than it used to be—by means of "human-readable" addresses.

Ripple and a top-tier exchange shift large XRP lumps

Five "heavy” XRP transactions detected by the aforementioned blockchain tracker in the past 24 hours carried a combined 240 million XRP coins.

San Francisco-based top-tier blockchain tech service provider Ripple transferred a whopping 60,000,000 XRP to one of its wallets—RL18-VN—that is often used for moving XRP to other entities, such as Ripple customers, banks, exchanges, institutions or custodial services, such as BitGo, which was acquired by Galaxy Digital last year.

At the current exchange rate, 60 million XRP is equal to $46,471,076.

The rest of the massive XRP amount mentioned above was shifted by top-tier South Korean exchange Bithumb between its own wallets. The largest stash moved by this platform internally was 130,000,000 XRP (the equivalent of $99,879,530). The others contained 20,000,000; 15,000,000 and 15,000,000 XRP tokens each.

The overall amount of the transferred XRP constituted an astounding $183,837,570.

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XRP can now be sent in a much easier way than before

As reported by U.Today, the XUMM wallet developed by XRPL Labs has scored a strategic partnership with FIO Protocol. The outcome of this collaboration is an integration of FIO Send with XUMM wallet, which will allow users of the wallet to send XRP to "human-readable" addresses, giving up the use of bulky and awkward auto-generated addresses.

From now on, XUMM users can choose an FIO Crypto Handle in the format of alice@website or satoshinakamoto@xumm. This is likely to ease the adoption of XUMM and XRP payments for new users, who find it confusing to use crypto addresses in the traditional format consisting of long rows of digits and characters mixed together.

As of Jan. 11, users can pick unique handles for sending XRP on FIO Protocol's website. The procedure is free of charge.

Recent XRP price action

As of this writing, the eighth largest cryptocurrency is changing hands at $0.7668, as per data provided by CoinMarketCap. XRP showed a growth of 5.41% earlier today—from $0.73225 to $0.77185.

However, by now, the coin is trading at $0.76663 after rising from $0.75887, according to TradingView.

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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.