Ripple Giant Shifts 50 Mln XRP, While Receiving 17 Mln from Binance

News
Wed, 10/14/2020 - 08:30
Yuri Molchan
Several major XRP transactions from Ripple tech giant and its ODL partners have been detected while Binance transferred 13 mln XRP to Ripple
Ripple Giant Shifts 50 Mln XRP, While Receiving 17 Mln from Binance
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XRPL Monitor spotted gargantuan amounts of XRP moved by the blockchain behemoth Ripple. Meanwhile, large XRP movements have been noticed on various Ripple ODL partner exchanges, and the Binance giant transacted 13 mln XRP to the San Francisco-based tech company.

Ripple shifts 50 mln XRP, receives 13 mln XRP from Binance

XRPL Monitor bot has made public knowledge the fact that, over the past twenty hours, tech behemoth Ripplewhich is now considering exchanging San Francisco for a jurisdiction that will be more crypto-friendly, has wired 50 mln XRP.

The transactions were made between Ripple wallets, "Ripple" and "RL18-VN."

In fiat, this amount constitutes $12,743,038. Ten mln XRP were transferred to BitstampRipple's ODL corridor in Luxembourg, Europe.

XRP
Image via Twitter

Binance trading giant has also transferred 13 mln XRP to Ripple, allegedly moving "redundant" XRP stock.

On Oct. 12, the CEO of the $10 bln blockchain giant Brad Garlinghouse stated that Ripple may well relocate to a country with a regulatory framework that allows crypto companies to work without much hassle.

The U.S. is not in a rush to come up with such a framework, it turns out.

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Ripple's ODL partners wire 42.6 mln XRP

According to recent tweets from XRPL Monitor, BitbankRipple's ODL partner in Japanhas pushed 37 mln XRP between its wallets, or $9,423,069 in fiat.

The aforementioned Bitstamp was seen transferring 5.6 mln XRP.

RippleNet spreading around 55+ countries

As covered by U.Today recently, Ripple had updated the RippleNet data section of its website. Now, users can see that the network is set up for the 350+ customers of the company. RippleNet has spread to more than 55 countries in various corners of the world in both hemispheres.

ODL is also expanding and along with it, entering new markets, including those in Africa.

About the author

Yuri is a 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. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.