115 Million XRP Moved by Ripple and Large Exchanges: Details

Ripple, the San Francisco-based cross-border payment firm, and a couple of large crypto exchanges have moved a whopping 115.3 million XRP. As stated in the report, the fintech behemoth shifted more than 50% of the total amount.

Ripple Shifted 70 Million XRP to Its ODL Platform

A couple of hours ago, Ripple was spotted initiating two huge transfers of a total of 70 million XRP. These transactions carried 50,000,000 and 20,000,000 of the digital token XRP.

According to Bithomp, an XRP-focused data provider, one of Ripple’s reserve wallets—RL18-VN—was involved in both transactions. It was the destination for 50 million XRP and, from it, 20 million coins were sent to Coins.ph, a Ripple-powered On-Demand Liquidity (ODL) platform running in the Philippines.

The rest of the aforementioned amount of XRP was sent from Bittrex to Bitstamp (30,000,000 coins) and by Coinone exchange (15,335,267 XRP). The overall sum of XRP moved by Ripple and exchanges constitutes $74.8 million in fiat.

One of the transactions was also spotted and reported by Whale Alert, the tracker of large transactions of cryptocurrencies.

2022 As Shown Biggest Growth for Ripple outside the United States

In a recent interview with Bloomberg, Ripple CEO Brad Garlinghouse said the firm is already working as if it has lost the legal battle with the SEC. This implies that if the regulator wins the case, it will have little or no impact on Ripple’s usual business.

Garlinghouse stated that 2022 has so far shown the biggest growth for Ripple outside the United States, with the company hiring many new employees.

According to the CEO in the course of the interview, 99% of Ripple’s customers are not based in the United States.

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Tobi Loba

Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.