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Ripple Shifts 191.1 Mln XRP, Half Goes to Its OTC Distribution Wallet

Sat, 09/26/2020 - 10:28
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Yuri Molchan
Major Twitter crypto tracking services have shown that Ripple has shifted 191.1 mln XRP, half of it went to its OTC Distribution Wallet
Ripple Shifts 191.1 Mln XRP, Half Goes to Its OTC Distribution Wallet
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According to the data published by popular crypto tracking services, Whale Alert and XRPL Monitor, over the past twenty hours, the DLT monster Ripple has transferred 191.1 mln XRP.

Approximately half of it went to its OTC (over-the-counter) distribution wallet.

191.1 mln XRP transferred by DLT giant

In a few recent tweets, XRPL Monitor spread the word that the Ripple decacorn had wired an astounding amount of 191.1 mln XRP between its wallets – that’s $46,187,036 in traditional fiat.

It took Ripple four transactions (three of them were made immediately one after the other) to shift lumps of 74 mln XRP (two wires), 25.4 mln XRP and 16.5 mln XRP.

Whale Alert and Bithomb data have shown that two of these transfers were made to Ripple’s OTC Distribution Wallet - r3u9Yrb7Kgaiw3CZqk1t3yQ8YagrNVT665.

Image via Whale Alert
Image via Bithomp

Ripple Shifts Juicy Lump to Its OTC Distribution Wallet—Big Part of 74.6 Mln XRP

Keeping XRP liquidity high

The blockchain behemoth Ripple uses its OTC wallets for cashing out bits of its XRP riches – to keep XRP liquidity high and for obtaining fiat cash for its operational expenses.

Ripple owns more than half of the total XRP supply – the thing for which some opponents rebuke the company frequently. 

On Friday, Ripple also wired 25 mln XRP to its OTC distribution wallet, while transferring 74.6 mln XRP in total.

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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