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53.5 Million XRP Shifted by Ripple's Large ODL Corridor

Wed, 04/06/2022 - 14:32
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Yuri Molchan
Crypto unicorn that collaborates with Ripple and another major exchange have together moved 53.5 million XRP tokens
53.5 Million XRP Shifted by Ripple's Large ODL Corridor
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As per recent Whale Alert tweets, two major crypto exchanges, one of which operates as Ripple's ODL platform, have shoveled almost 54 million XRP.

53.5 million XRP on the move

The aforementioned popular crypto tracker has reported that over the past 14 hours, two heavy XRP transfers have been made, carrying 30,000,000 and 23,500,000 XRP. These two XRP lumps together are worth $43,162,490.

The first lump was transferred from a Bittrex address to Bitso—the largest crypto exchange in Latin America based in Mexico. The latter became a crypto unicorn after raising $250 million in an investment round in early May 2021.

Image via Twitter

Bitso is Ripple's major ODL spot

The total evaluation of the company back then was $2.2 billion. Initially, Ripple made an undisclosed investment into Bitso in the fall of 2019, making it its ODL partner.

Back in 2019, when the aforementioned investment of Ripple was made, Bitso revealed that operations with the XRP/MXN pair accounted for 80% of its trading volume.

In 2020, it was reported that Bitso planned to use Ripple's ODL technology to process 20% of all remittances sent to Mexico. At that time, remittances made from the U.S. to Mexico comprised a staggering $35 billion annually.

Bloodbath on Stock Market Causes Crypto Market Meltdown: ADA, SOL and ETH Down 10%

XRP is down more than 5% as crypto bloodbath continues

Following the slump of the stock market, the cryptocurrency market has been hit by a ricochet. The leading digital currencies—Bitcoin and Ethereum—have lost almost 4% and 5%, respectively.

The other top 10 assets are also down at the moment, including ADA and XRP. The Ripple-affiliated token is down more than 5%, changing hands at $0.7756 at press time.

Image via CoinMarketCap
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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