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450 Million XRP Moved by Ripple, Here's Why It May Be Sale

Tue, 02/14/2023 - 13:37
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Yuri Molchan
Close to half billion XRP have been transferred by Ripple blockchain giant in merely three transfers
450 Million XRP Moved by Ripple, Here's Why It May Be Sale
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Ripple fintech company based in San Francisco has moved a massive amount of XRP tokens, as detected by prominent DLT service Whale Alert that traces large crypto movements.

Overall, nearly half a billion XRP have been transferred in the past 17 hours. Data provided by Bithomp suggests that Ripple may be selling hundreds of millions of XRP here.

450 million XRP on move from Ripple

The crypto tracker mentioned above spotted three consecutive crypto transfers, carrying 150 million XRP each and 450 million XRP in total. This amount of Ripple-linked tokens is equal to $166.3 million in U.S. dollars.

All three transactions were made by Ripple Labs. Links provided by Whale Alert are invalid, however, a Twitter user shared a link to the XRP-focused platform Bithomp in a comment under each of those transfers.

The funds were moved to three other Ripple wallets, though, so here we have witnessed a large but internal transfer. Two chunks of 131 million XRP from these transactions were immediately sent to U.S.-based Bittrex exchange.

Image via Twitter

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Ripple converts XRP into fiat

Ripple often moves some of the XRP tokens it holds to crypto exchanges in order to support the token's liquidity or to convert some of its XRP to fiat in order to cover its operational expenses.

At the time of writing, the sixth largest cryptocurrency by market capitalization value is trading at $0.3703 after a 1% rise in the past 24 hours.

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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