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Ripple Transfers Almost 100 Mln XRP, While Its ODL Partners Also Move Large XRP Amounts

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Tue, 07/28/2020 - 09:24
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Yuri Molchan
Blockchain giant Ripple has reached into its deep pockets to throw out 98 mln XRP, while its ODL partner, Bitstamp, has moved half that amount
Ripple Transfers Almost 100 Mln XRP, While Its ODL Partners Also Move Large XRP Amounts
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According to data from the XRPL Monitor bot, over the past 15 hours, the San-Francisco-based blockchain behemoth Ripple has made several transactions, totaling 98 mln XRP.

Meanwhile, its European ODL partner Bitstamp has wired around half of that amount: 48.5 mln XRP. A substantial amount of XRP has also been sent by Mexico-based Bitso.

Ripple and its ODL partners move large lumps of crypto

The Twitter account of the XRPL Monitor has shared data regarding several transactions made by Ripple and 98 mln XRP wired in total. This amounts to $21,811,649 at the current XRP/USD price.

XRP
Image via @XRPL_Monitor

According to Whale Alert, part of these funds was sent from Ripple to its Distribution Wallet: around 33 mln XRP.

One of the Twitter users in the comment thread assumed that this could be an institutional investor laying its hands on the XRP stash for future usage.

Meanwhile, Ripple’s ODL corridor Bitstamp has also made several large XRP tranfers11.5 mln, 7 mln and 30 mln XRP. That adds up to 48.5 mln XRP, totaling $10,674,022.

Mexico-based Bitso exchange, the largest ODL corridor so far, has moved 12.5 mln XRP.

However, for a long while, none of the current primary ODL corridors (located in Mexico, the Philippines, Europe and Australia) have managed to even approach a new all-time high in the XRP liquidity index.

Related
Ripple’s Partner SBI Kicks Off Platform for Issuing Digital Currencies on Corda Blockchain

XRP surges to $0.22

After the Bitcoin price soared on Sunday, surpassing the $10,000 level and now coming close to $11,000, it brought altcoins along with it. XRP showed a small but important rise from $0.19 to $0.20 last week.

At press time, the fourth largest currency is trading at the level that it managed to achieve this weekend$0.22.

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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.