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335 Million XRP Shifted by Ripple and Exchanges as XRP Trades on the Dip

Sat, 06/11/2022 - 11:13
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Yuri Molchan
Ripple and several leading exchanges have transferred over 335 million XRP while the coin’s price keeps going down
335 Million XRP Shifted by Ripple and Exchanges as XRP Trades on the Dip
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Whale Alert crypto tracking service that is focused on tracking large crypto transactionshas detected several transactions bearing large amounts of Ripple-affiliated token XRP.

More than 330 million tokens has been moved with Ripple fintech giant taking an active part in moving these funds on the blockchain.

Meanwhile, XRP is demonstrating a drop by 4.71 percent over the past twenty-four hours.

335 million XRP wired by top platforms

Whale Alert has posted a series of tweets to spread the word about seven large XRP transactions. The biggest one was made by Ripple blockchain monster as it moved 70,000,000 coins to one of its reserve wallets – RL18-VN.

This wallet of the company is used for moving crypto beyond Ripple – to its customers, exchanges and for covering operational expenditures.

This amount of XRP is evaluated at $26,718,456 at the current exchange rate.

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A slightly bigger amount was kicked over by Mexico-based Bitso exchange – 74,800,000 XRP. Bitso is a crypto unicorn, the only one in Latin America, and a company that Ripple invested an undisclosed amount back in the fall of 2019, making the exchange its partner on its On-Demand Liquidity (ODL) service for fast and low-cost transfer of funds that leverages XRP.

The rest five transactions carried lumps of roughly 30 million and 40 million XRP from exchanges Bitstamp, Bittrex, etc.

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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.