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Ripple Locks 600 Million XRP in Escrow, While Helping Move 105 Million XRP

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Sat, 10/02/2021 - 09:35
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Yuri Molchan
Ripple giant has put 600 million XRP back in escrow and helped transfer another 105 million XRP, sending half to its ODL platforms
Ripple Locks 600 Million XRP in Escrow, While Helping Move 105 Million XRP
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As per Whale Alert, the San-Francisco-based blockchain behemoth has moved 60 percent of the unleashed billion XRP back to escrow. Ripple it has also sent ninety million XRP to its ODL corridors in various parts of the world.

Ripple locks 600 million XRP back

After withdrawing one billion XRP tokens from escrow account on October 1, Ripple has moved back 600 million from that amount back and locked it up. Usually, larger amounts of crypto are put back in escrow after a billion XRP release – 800 million to 900 million on average.

600,000,000 XRP totals $610,652,722 in fiat currency.

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Ripple shovels XRP to its ODL corridors

Whale Alert team has also shared that in the last sixteen hours, Ripple has transferred a whopping 90 million XRP – the equivalent of $91,597,908.

40 million XRP was moved to one of Ripple’s alternative wallets RL18-VN. 50 million XRP in four transactions was sent to Ripple’s ODL corridors in Mexico, Luxembourg and the Philippines – Bitso, Coins.ph and Bitstamp – from Ripple’s addresses RL18-VN and RL43-EE.

RL18-VN – Bitso, 20,000,000 XRP ($20,385,866 USD)

RL18-VN – Bitstamp, 10,000,000 XRP ($10,204,127 USD)

RL43-EE – Bitstamp, 10,000,000 XRP

RL43-EE – Coins.ph, 10,000,000 XRP

Besides, Bitso exchange shifted 15 million XRP to Binance.

At the time of writing, the sixth largest crypto XRP is changing hands at $1.02, after reclaiming the $1 level on Friday, October 1, according to the market data shared by CoinMarketCap.

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Image via Whale Alert
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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 yuri.molchan@u.today.