Ripple Moves Millions of XRP to These Exchanges, Here's What's Remarkable

Whale Alert blockchain tracker, which shared detailed data on large cryptocurrency transfers, has detected two big crypto lumps sent to popular exchanges Bitstamp and Bitso. One of the transfers carried 26,500,000 XRP, and the other one moved a slightly smaller portion of 20,000,000 XRP.

Nearly 50,000,000 XRP have been shoveled in total within the last 24 hours. In the meantime, XRP has surged over 15% within the past seven days.

$25.8 million worth of XRP on move

According to the two X posts published by the aforementioned crypto tracking bot, these two transfers of 25.5 million XRP and 20 million XRP were evaluated at $14,735,487 and $11,115,098.

Per data shared by XRP explorer Bithomp, in both of these cases, the transactions were initiated by Ripple-affiliated wallet rpEBdnP3C3wNvDX2hcfMJY9JoNUH3LXfj5. 

The destination of the first transfer was the Bitstamp exchange located in the European Union. The second one was targeted at Mexico-based exchange Bitso, also a local crypto unicorn with a capitalization of more than $1 billion.

Also, it is a well-known fact that both Bitstamp and Bitso collaborate with the San Francisco-based Ripple fintech behemoth on its service "Ripple Payments," which utilizes XRP to make transnational payments via RippleNet network. In the not-so-distant past, this service used to be called On-Demand Liquidity (ODL), but recently it was rebranded to be more understandable to outsiders of crypto and Ripple.

Related

Thu, 10/26/2023 - 09:33

SHIB Official Warns SHIB Army About Crucial Bug in Shibariumscan

Yuri Molchan

Ripple CTO stirs XRP and PEPE communities

As reported by U.Today earlier, Chief Technology Officer of Ripple Labs David Schwartz posted a picture of a frog on his X account on Thursday. This immediately caught the attention of not only XRP fans but also of the PEPE community.

While XRP enthusiasts began guessing whether the frog represented the "leap" of XRP, which Schwartz expects to happen soon, the PEPE-themed accounts began tweeting that the Ripple CTO had finally "come to his senses" and began promoting the frog-themed meme coin, which has seen an astounding rise of more than 60% this week. PEPE jumped from $0.0000007489 to the $0.000001172 level, where it is trading as of this writing.