335 Million XRP Shifted By Ripple And Exchanges As XRP Trades On The Dip
Ripple and several leading exchanges have transferred more than 335 million XRP as the price of the coin continues to fall
Whale Alert crypto tracking service aimed at tracking large crypto transactions has detected several transactions involving large amounts of Ripple-affiliated token XRP.
More than 330 million tokens have been moved with Ripple fintech giant actively participating in moving these funds on the blockchain.
Meanwhile, XRP is down 4.71 percent over the past twenty-four hours.
335 million XRP wired from top platforms
Whale Alert has posted a series of tweets to spread the word about seven major XRP trades. The biggest was created by Ripple blockchain monster when it moved 70,000,000 coins into one of its reserve wallets – RL18-VN.
This wallet from the company is being used to move crypto beyond Ripple – to its customers, exchanges and to cover operational expenses.
This amount of XRP is valued at $26,718,456 at the current exchange rate.
— Whale Alert (@whale_alert) June 10, 2022
A slightly larger amount was thrown over by the Mexico-based Bitso exchange – 74.8 million XRP. Bitso is a crypto unicorn, the only one in Latin America, and a company that invested an undisclosed amount on Ripple in late 2019, making the exchange its partner on its On-Demand Liquidity (ODL) service for fast and cheap transfer of funds using XRP.
The remaining five trades contain chunks of approximately 30 million and 40 million XRP from exchanges Bitstamp, Bittrex, etc.