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

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Sat, 09/26/2020 - 10:28
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
Cover image via stock.adobe.com
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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.

XRP
Image via Whale Alert
XRP
Image via Bithomp

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

About the author

Yuri is a 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. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.