Ripple Sends Millions of XRP to Bitstamp, Here's How XRP Price Reacts

Prominent cryptocurrency tracker Whale Alert has reported that over the period of the last 24 hours, it has spotted two hefty transfers, carrying millions and millions of XRP. One of them turned out to be made from a Ripple-linked wallet, although Whale Alert tagged it as an "unknown" wallet.

The other other transfer shifted more than 420 million XRP withdrawn from a major crypto exchange. This happened while XRP demonstrated a nearly 4% drop today.

Ripple sells another XRP chunk

According to a tweet published by Whale Alert, approximately 14 hours ago, an anonymous wallet address sent a total of 29,500,000 XRP to the Bitstamp exchange. Details shared by the Bithomp XRP-focused analytics platform says that the sending address belongs to San Francisco-based crypto giant Ripple Labs.

Ripple sent nearly 30 million XRP to the Bitstamp trading platform once again after several similar transactions made over the past few weeks.

Overall, recently, Ripple has made a minimum of four same-sized transactions to Bitstamp, selling roughly 120 million XRP tokens.

The Sunday sale took place as the XRP went down as mentioned above; therefore, it is likely that Ripple sold tens of millions of XRP at a slight loss to themselves. At the time of this writing, XRP is trading at $0.47984.

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Close to half billion XRP on the move

Whale Alert also spread the word about a jaw-dropping chunk of XRP moved from the Bitvavo crypto trading venue. The transaction was initiated by an anonymous wallet that received the crypto transfer.

In September and August, the above-mentioned tracking platform saw several other transactions, carrying more than 420 million XRP. Some of them however, were internal movements of crypto made by Bitvavo. The others were transferred by anonymous XRP holders.