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286 Million XRP Shifted by Ripple, ODL Corridors and Top-Tier Exchanges

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Wed, 12/15/2021 - 08:35
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Yuri Molchan
Ripple, along with several ODL platforms and major South Korean exchanges, has shifted close to 286 million XRP
286 Million XRP Shifted by Ripple, ODL Corridors and Top-Tier Exchanges
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Major blockchain tracker Whale Alert has reported that over the past day, a whopping 285.9 million XRP coins have been moved by the Ripple crypto giant, some of its ODL platforms and big cryptocurrency exchanges based in South Korea.

286 million XRP kicked in eight transfers, Ripple involved

As per the data provided by the aforementioned DLT service, over the past seven hours, six major transactions have been conducted, carrying slightly over 200 million XRP.

The largest lump transferred carried a staggering 100 million, moved by leading South Korean exchange Bithumb between its internal wallets.

Ripple, a DLT service provider from San Francisco, and some of its ODL corridors were involved in several of these transactions.

A total of 20 million XRP were sent from Ripple's wallet RL18-VN to the Coins.ph exchange based in the Philippines. Prior to that, Ripple sent these funds to the abovementioned wallet, which is often used to send crypto beyond the company – to ODL platforms, exchanges or financial institutions.

Another Ripple ODL partner, Mexican exchange Bitso, sent 19,800,000 XRP between its internal addresses as well. It has also received 20 million XRP from Bittrex.

U.S.-headquartered exchange Bittrex has also shifted 20 million XRP to EU-based platform Bitstamp.

XRP transactions by other exchanges

Among other exchanges that also sent XRP are South Korean Coinone and FTX. The latter pushed 13,618,010 XRP to HitBTC.

The total amount of XRP sent in these eight transactions equals $231,757,792 as, at press time, the Ripple-affiliated cryptocurrency is changing hands at $0.8106, as per CoinMarketCap.

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Another exchange to delist XRP

While the legal battle initiated by the U.S. Securities and Exchange regulator against Ripple Labs continues, Canadian crypto trading venue Bitbuy has announced that it plans to remove the XRP/CAD and XRP/BTC pairs from its trading asset list.

The exchange received regulatory permission to work as a fully registered dealer earlier this month, and its reps state that they have to follow international regulatory rules as to what crypto assets may be classified as securities.

However, according to the Bitbuy rep, later on, should the regulatory environment change, XRP trading may be resumed on this platform.

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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.