Main navigation

Ripple Moves Dozens of Millions of XRP – Is Company Selling?

Thu, 12/08/2022 - 10:30
article image
Yuri Molchan
Over past 12 hours, Ripple has participated in transferring large amount of XRP, while sending nearly half of it
Ripple Moves Dozens of Millions of XRP – Is Company Selling?
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

Popular cryptocurrency tracker Whale Alert has reported that over the past 15 hours, a total amount of 160.6 million XRP has been moved by Ripple's ODL corridor Bitso and a wallet tagged by Whale Alert as "unknown."

These transfers have taken place on the heels of yesterday's move of 4.1 billion XRP, which was covered by U.Today.

Ripple moves millions of XRP, along with other players

Ripple Labs fintech giant was spotted transferring a total of 50,000,000 XRP. This caused a wave of comments, in which Twitter users were trying to guess where the funds were sent. Some believe that Ripple could be selling a tiny drop of the XRP they hold. The funds were moved to one of the company's wallets, RL18-VN. It is usually used for moving XRP outside the company or selling.

Yesterday's move of 4.1 billion XRP from the Bittrex exchange to anonymous wallets in lumps of 300 million and 500 million (mostly) were also mentioned, with questions raised about the purpose and the participants of that series of crypto transactions.

Roubini Slams Crypto Over Huge Risks Associated with Sector

As for the rest of the transfers here, two of them were made by Latin American exchange Bitso, which is based in Mexico and is the only crypto unicorn in that region. It shoveled chunks of 35,600,00 XRP and 40,000,000 XRP about nine hours ago. Bitso is one of Ripple's ODL platforms, and it has been actively spreading the use of this technology for funds transfers around Latin America.

The third transfer was made by an anonymous whale to the Bitstamp exchange. However, the sender's wallet proved to be linked to the U.S.-based Bittrex exchange, according to XRP wallet tracker Bithomp.

article image
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