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Ripple and Custodial Service BitGo Shift Almost 300 Mln XRP During Last 20 Hours

Tue, 10/27/2020 - 13:59
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Yuri Molchan
XRPL Monitor has tweeted that almost 300 mln XRP has been shifted by Ripple, BitGo and ODL corridor Bitstamp
Ripple and Custodial Service BitGo Shift Almost 300 Mln XRP During Last 20 Hours
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The major Twitter bot that tracks XRP transactions and shares them with Twitter has spread the word that Ripple and BitGo, along with Ripple's ODL corridor Bitstamp, have wired an amount of XRP slightly under 300 mln.

Almost 300 mln XRP wired by Ripple, BitGo and Bitstamp

According to data shared by XRPL Monitor, DLT giant Ripple and custodial platform BitGowhich stores XRP for Ripple's institutional customershas shifted 287.8 mln XRP over the past 20 hours.

This amount totals a staggering $72,799,845.

Ripple wired 10 mln XRP to BitGo, a platform that offers services of wallet and crypto custody for institutional investorsmany of whom are Ripple customers.

BitGo was spotted transferring a total of 287.8 mln XRP in three separate transactions.

Image via Twitter

Ripple's ODL corridor based in Luxembourg conducted a transfer worth 10.8 mln XRP.

JP Morgan’s Coin to Be Used First Time while Banking Giant Sets Up Commercial DLT Unit

Long-term expectations toward XRP

XRP is the fourth-ranked cryptocurrency with an $11,321,451,357 market cap. Ripple works on XRP as a bridge currency between CBDCs in the future and for wiring payments via RippleNet between countriesregardless of the distance or the amount sent.

At press time, XRP is sitting at $0.25 after seeing an all-time high of over $3 back in early 2018.

Brad Garlinghouse disappointed at PayPal's crypto embrace

As reported by U.Today, the head of DLT decacorn Ripple, Brad Garlinghouse, criticized PayPal's stepping into the crypto industry last week.

As per Garlinghouse, the problem is that the payments giant does not allow users to hold their own private keys and they cannot withdraw or deposit cryptocurrenciesBTC, ETH, LTC and BCHbut only shift them between PayPal wallets.

Overall, Garlinghouse has been disappointed with the lack of crypto-friendly regulation from U.S. authorities and stated that, should this state of things continue, Ripple may move its headquarters to a different jurisdiction.

Japan, Singapore and London have been named as the most likely spots for Ripple to move to.

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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