Ripple keeps sending large amounts of crypto worth millions of USD from its wallet, here’s where they are headed
According to data recently shared by popular crypto tracking service Whale Alert, in the past two days, around 300 million XRP tokens have been transferred between major crypto exchanges.
Ripple fintech giant took a direct part in transferring these funds as the company continues to send large amount of XRP to be converted into millions of US dollars.
Ripple Sells 50 Million XRP on Bitstamp
Whale Alert tweeted that a large amount of XRP tokens, totaling around 300 million XRP, have been transferred over the past 48 hours. The amount sent by crypto giant Ripple consisted of 50 million tokens, which are worth $18,777,694 at the current XRP/USD exchange rate.
Bithomp analytics platform that is focused on XRP data shows that this 50 million tokens were moved by Ripple to its RL18-VN wallet and then 20 million XRP were sent to the Bitstamp exchange.
Curiously, the platform which also serves as one of Ripple’s many ODL corridors is looking to delist one of the XRP pairs later in August – XRP/PAX.
Exchanges move 220 million XRP
The rest of the 270-million stash spotted by Whale Alert was shifted by top-tier exchanges Bittrex, BitGo, Bitstamp and Bitso – the crypto unicorn related to Ripple after the undisclosed investment by the crypto giant into this exchange in the fall of 2019.
Overall, the total amount of XRP is valued at $102,293,258.
