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Almost 100 Mln XRP Moved by Ripple and Major ODL Corridor

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Wed, 04/29/2020 - 10:29
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Yuri Molchan
Ripple joins the largest ODL corridor and other major exchanges in moving a staggering amount of XRP – nearly 100 mln
Almost 100 Mln XRP Moved by Ripple and Major ODL Corridor
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As Bitcoin may be on the verge of breaking above the long-eyed $8,000 resistance, XRP is also pumping. It has broken $0.21, striving for higher marks.

Meanwhile, several big crypto market players have, together, made several transfers, moving ninety-eight million XRP with Ripple and the largest ODL-powered corridor.

Nearly 100 mln XRP wired

The XRPL Monitor bot, specially designed for tracking XRPL transactions, has shared details of several blockchain transfers constituting ninety-eight million XRP – that’s $21,002,563 in USD.

Half of this gargantuan amount was transferred by blockchain decacorn Ripple – 50 mln XRP.

Bitso, the Mexican crypto exchange and largest ODL-powered corridor for wiring funds via XRP, took part in transferring 18.4 mln XRP ($3,941,909).

Bitso XRP
Image via Twitter

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100 bln XRP vs 21 mln BTC

Crypto investor, YouTube blogger and XRP advocate Robert Art has taken to Twitter to offer an explanation for the tremendous number of the total XRP supply – almost 100 bln versus 21 mln BTC (of which only slightly over 18 mln is in circulation at the moment).

Many Bitcoin advocates are emphasizing the scarcity of Bitcoin when talking about its current high price and its great potential for growth (some ambitious ones are forecasting from between $400,000 to $1 mln).

The so-called ‘XRP army’ hopes that, one day, XRP will become the global bridge currency to be used by banks.

“Why is there 100 billion XRP and not 21 million like Bitcoin? Because there are 7.8 billion people in the world, 1.4 billion unbanked and underbanked and 180 currencies in 195 countries. That’s 12.6 XRP per person. Suddenly, 100 billion isn’t much, is it?”

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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.