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Ripple Giant Shovels 75 Million XRP, Here’s Destination

Tue, 07/11/2023 - 15:45
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Yuri Molchan
Prominent fintech company has been noticed to transfer tens of millions of USD in XRP
Ripple Giant Shovels 75 Million XRP, Here’s Destination
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Data shared by the popular blockchain tracker Whale Alert less than an hour ago says that leading fintech Ripple Labs made a large transaction of XRP tokens, moving them to an anonymous digital wallet.

The XRP sum in question is 75,000,000 worth $35,400,652 USD. Whale Alert shared the data in its Telegram channel. Details provided by the XRP-focused Bithomp platform show that the funds were sent from a RL92-MN wallet that belongs to Ripple Labs.

Image via Whale Alert

The destination wallet is also linked to Ripple, according to the same website. The same tracker shows that on July 1, this wallet received 200,000,000 XRP from Ripple.

On June 29, 100,000,000 XRP also came from it from the same sender.

XRP and SHIB Among Most Traded Currencies on Major Indian Exchange

Ripple has stuck in the legal case that the SEC started against it in December 2020. As a result, many exchanges, including Coinbase and Binance US decided to suspend XRP trading and the exchange rate of the Ripple-affiliated coin against USD faced a sharp drop.

However, at the start of the year, during the Davos event, Ripple chief Brad Garlinghouse said in an interview that he expects the case to be over this year, maybe even in the first half of 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