Millions of XRP Find Their Way to Bitstamp, Important Anonymous Sender Exposed
More than 14 hours ago, an enormous amount of XRP, 25 million, was deposited to major Bitstamp crypto exchange from an anonymous digital wallet, according to Whale Alert's X post.
Later, data shared by XRP-centered explorer Bithomp shed light on the identity of the mysterious XRP sender.
Yuri Molchan25 million XRP on move, sender exposed
Prominent cryptocurrency tracker Whale Alert has reported that an anonymous wallet transferred an impressive 25 million XRP to the Bitstamp crypto trading platform.
This XRP lump is equal to $15,559,207 in fiat. The transaction caused a wave of comments, among which both concerned and surprised ones could be found. One X user, however, mentioned why and by whom the transfer was made. "Ripple to ODL," he stated under the Whale Alert X post. Data provided by Bithomp confirmed this user's assumption.
The thing is that Bitstamp is one of the many platforms that support ODL corridors for seamless, fast and low-cost fund transactions. Usually, there are two crypto exchanges for each "ODL corridor" that connects two different countries.
ODL stands for On-Demand Liquidity, a RippleNet-based product that sends transnational payments using XRP. It currently operates in more than 70 global markets. This year, Ripple decided to rebrand ODL to simply "Ripple Payments" to make it easier to understand at once for those who are new to crypto and do not know how crypto payments work.
Ripple advocate Deaton slams XRP FOMO buyers
Over the weekend, founder of Crypto-Law.US and rigid Ripple supporter John Deaton took to the X social media platform to share when is the best time to buy XRP. He recalled the recent FOMO, when fake news emerged about BlackRock filing for an XRP ETF with the SEC.
This pushed the price of the Ripple-affiliated cryptocurrency way up. However, once head of BlackRock Larry Fink debunked that rumor, the XRP price plunged by 12%.
Deaton stated that many people in the community rush to buy XRP when FOMO ("fear of missing out") starts, as this time with the fake rumor or back in July, when federal judge Analisa Torres declared that Ripple's XRP sales on secondary markets do not qualify as security sales.
Deaton himself, per his X post, did not buy a single XRP coin at those two times when FOMO hit; he bought a lot of XRP much earlier, he said, and then he waited. He believes that when FOMO starts, it is too late to buy, since big money will have been made by somebody already.
He recommended that the community not wait for any FOMO next time and accumulate XRP in advance while the price is low.
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U.Today Editorial Team