45 Mln XRP Wired by Ripple and Its ODL Platforms in Europe and Japan

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Thu, 11/12/2020 - 10:25
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Yuri Molchan
Blockchain giant Ripple and two of its ODL platforms based in the EU and Japan have been spotted moving $11,540,296 worth of XRP
45 Mln XRP Wired by Ripple and Its ODL Platforms in Europe and Japan
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As per data shared by XRPL Monitor crypto tracking service, the "rebellious" fintech firm Ripple, which is seriously considering relocating from the U.S., and its On-Demand-Liquidity corridors, has wired a gargantuan 45 mln XRP over the past 24 hours. This is the crypto equivalent of $11,540,296.

Ripple decacorn wires 20 mln XRP, Bitbank moves 25 mln XRP

The popular XRP tracking bot on Twitter has published data saying that the blockchain decacorn Ripple has conducted 20 mln XRP in two transactions.

Ten million XRP was moved between Ripple's wallets. The other half went to the company's ODL corridor, Bitstamp, based in Luxembourg, Europe.

Internal XRP transfers in Ripple are conducted frequently when the company allocates funds for operational expenses, to be sent to its partners (large financial institutions) and to crypto exchanges to support the coin's liquidity.

From time to time, Ripple also sends XRP to its partner MoneyGram, who collaborates with it when it comes to ODL corridors.

The other half of the 45-mln-XRP pie was sent by the Japanese crypto exchange Bitbank, another ODL platform.

XRP
Image via Twitter

Related Ripple Opens Dubai Headquarters Amid Talks of Moving Out of U.S.
Related
Ripple Opens Dubai Headquarters Amid Talks of Moving Out of U.S.

Peter Brandt claims XRP to be a security

Recently, legendary trader Peter Brandt tweeted that the U.S. SEC would have already classified XRP as a security if it had any idea of how crypto works.

The savvy trader often criticizes the fourth largest cryptocurrency, XRP, calling it a manipulated scam and accusing Ripple of manipulating the crypto market.

In October, Ripple gained a partial victory in a long-lasting class action lawsuit that accuses XRP of being an unregistered security.

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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.