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Whopping 1.176 Billion XRP Wired by Ripple, ODL Venues and Leading Exchanges

Fri, 12/24/2021 - 09:24
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Yuri Molchan
An overwhelming sum of almost 1.2 billion XRP has been shifted by Ripple and top-tier exchanges, including ODL platforms, in large lumps
Whopping 1.176 Billion XRP Wired by Ripple, ODL Venues and Leading Exchanges
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Data shared by Whale Alert blockchain tracking service shows that over the past 20 hours, a jaw-dropping amount of Ripple-affiliated XRP has been shifted by multiple players in the crypto space. These include Ripple tech monster, several of its ODL corridors and popular exchanges like Binance.

1.18 billion XRP shifted in massive lumps

The crypto tracker team has spread the word that over the last 20 hours, 23 XRP lumps—some of them exceeding 200 million XRP—were shifted by major crypto trading venues and the Ripple tech behemoth.

Ripple sent 65,000,000 XRP to its RL18-VN wallet that is often used for sending XRP to external wallets, to customers, financial institutions and exchanges, as well as for selling XRP to cover the company's operational expenditures.

Later on, 10,000,000 coins went from this wallet to the Philippines-based Coins.ph exchange, which operates as an ODL platform in the country.

Another Ripple ODL platform, crypto unicorn Bitso, received 20,000,000 XRP from Bittrex exchange and shifted 20,100,000 XRP internally.

The largest transactions among these 23 transfers were made by anonymous whales and Coinone exchange: 225,110,270 and 249,999,980 XRP. That is $227,928,050 and $247,283,180, respectively.

Among the other participants who sent and received XRP are Binance (shifted over 120 million XRP), custodial service BitGo acquired by Galaxy Digital this year, FTX exchange, Kraken and South Korean platform Bithumb (wired 90 million XRP between its wallets).

Also, 191.4 million XRP were shoveled between anonymous crypto addresses.

The overall amount of XRP (1.76 billion) transferred this time is equal to approximately $1.180 billion in fiat.

Related
Bitcoin Could Hit $200,000 in 2022 After Disappointing 2021, Says Tom Lee

Ripple's strongest year despite issues with SEC

In a Twitter thread published earlier this week, Ripple chief executive Brad Garlinghouse stated that despite the legal war with the Securities and Exchange Commission, 2021 has been the strongest year for the company.

According to Garlinghouse, the On-Demand Liquidity solution powered by XRP now accounts for one-fourth of the overall volume of USD transferred by RippleNet network.

Besides, among other achievements, two new ODL corridors have been opened: in Japan and the UAE.

The lawsuit was initiated by the SEC back in the last 10 days of December 2020, and it is still not over as both sides continue to score victories against each other in court.

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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.