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Ripple Sells Millions Worth of XRP: Whale Alert

Thu, 08/18/2022 - 15:43
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Yuri Molchan
Ripple has helped to wire nearly 766.7 million XRP worth more than $180 million
Ripple Sells Millions Worth of XRP: Whale Alert
Cover image via stock.adobe.com

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Contents

Popular crypto platform WhaleAlert that tracks down large movements of cryptocurrencies has spotted several substantial transactions that carried nearly 767 million XRP tokens.

Two of these transfers carried more than an eye-popping 280 million XRP each.

Ripple sells 50 million XRP

Ripple fintech giant was spotted shifting 50,000,000 XRP worth $18,877,056. This chunk of crypto was sent to the company's alternative wallet, RL18-VN.

This address is used for converting XRP into fiat, as well as for moving XRP outside the company – to crypto exchanges and financial institutions who are among Ripple's clients.

Aside from that, RL18-VN is also used to send XRP to the company's liquidity corridors (ODL platforms).

Related
Ethereum’s Vitalik Buterin Riles Up XRP Community Once Again

716.7 million XRP shifted by major exchanges

The rest of the aforementioned gigantic amount of XRP was wired between several large global crypto exchanges – Bittrex, Bitstamp, BitGo and Bitso.

Two massive single lumps of XRP were sent between anonymous wallets. One of them carried 286,122,720 XRP, and the other one moved 279,622,820 worth $106,641,340 and $105,723,950, respectively.

The total amount of XRP transferred is equal to $180,770,321.

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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.