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

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 BitGo—which stores XRP for Ripple's institutional customers—has 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 investors—many of whom are Ripple customers.

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

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

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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 countries—regardless 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 cryptocurrencies—BTC, ETH, LTC and BCH—but 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.