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Tens of Millions of XRP Shoveled by Ripple Partner Bitso as XRP Drops 12% Weekly

Wed, 12/21/2022 - 14:35
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Yuri Molchan
Ripple On-Demand Liquidity platform Bitso has been spotted shoveling millions of USD in Ripple's XRP token
Tens of Millions of XRP Shoveled by Ripple Partner Bitso as XRP Drops 12% Weekly
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As reported by Whale Alert crypto tracking service, over the past 12 hours, roughly $42 million worth of XRP tokens has been transferred.

That was 120 million XRP, shifted by Ripple partner Bitso exchange and two anonymous digital wallets. In the meantime, the price of the seventh largest cryptocurrency XRP has shown a drop by more than 12% over the past week, according to Whale Alert.

120 million XRP sent over

Ripple Labs made an investment into Bitso in the fall of 2019, the amount of which remained undisclosed. Bitso has moved 50,500,000 XRP to a wallet that the aforementioned tracker marked as unknown. Data shared by XRP-focused Bithomp analytics website shows that this was, however, an internal XRP transfer between Bitso's exchanges.

The same crypto exchange also received 30,000,000 XRP from a wallet that belongs to major U.S.-based crypto exchange Bitso.

Bittrex also transferred a total of 40,000,000 XRP to a Bitstamp-based wallet.

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Ripple moves 50 million XRP, here's where to

As reported by U.Today, on Dec. 20, Ripple giant shoveled 50 million XRP worth $16,789,197 to an anonymous wallet. That proved to be one of the company's reserve wallets, RL18-VN.

Bithomp also revealed that, after that, 27.6 million XRP were sent from that wallet to the Bittrex exchange.

Over the past week, the price of XRP has shed roughly 12%. The amount of 4.17% was lost earlier today; however, by now, XPR has regained some of it, rising 1.45%. The coin is changing hands at $0.34322 at the time of this writing.

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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

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