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.
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.
Read Also: Ripple CTO David Schwartz Slams Elon Musk, Reveals Motive behind His Proposal to Take Over Twitter
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.
Read Also: Ripple Releases New Version of XRP Ledger That Will Support Advanced NFT Functionality: Details
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.
Follow us on Twitter, Facebook, Telegram, and Google News
Market analyst Ali Martinez has identified a critical price level XRP must maintain to sustain…
In recent developments within the cryptocurrency sector, a notable assertion has emerged from JackTheRippler (@RippleXrpie),…
Dogecoin (DOGE), the popular meme-inspired cryptocurrency, is showing signs of a potential trend reversal as…
The regulation of stablecoins has become a significant point of discussion in the cryptocurrency space,…
Ripple has just unveiled a new advertisement for its latest innovation—Ripple Custody, a platform designed…
The ongoing debate about whether XRP can replace SWIFT as the backbone of global finance…
