Fintech giant Ripple has shifted a staggering amount of XRP to an anonymous wallet
According to the Whale Alert tracker, about 12 hours ago, the Ripple blockchain service provider conducted a massive transaction, removing 100 million XRP in a single transfer to a wallet, which the crypto tracker tagged as “anonymous”.
This happened after the company withdrew an astounding billion XRP tokens from escrow two days earlier.
Meanwhile, whales have moved around 300 million XRP in the past two days.
These were another two days of whales moving massive amounts of Ripple-affiliate token as their activity has increased over the past month. A transaction made by Ripple was spotted among them too.
Ripple Moves 100 Million XRP to This Destination
Whale Alert tweeted that 100 million XRP left Ripple’s wallet, visiting an “unknown” address. However, the Bithop on-chain wallet tracker focused on XRP shows that this portion of the crypto went to RL18-VN – the address frequently used by Ripple to move funds outside the company.
From this wallet, in the past, crypto was sent to exchanges, institutional customers and charity.
On September 1, it regularly issued one billion XRP from escrow. This time, however, 700 million tokens were locked back into escrow on the same day and 300 million was set aside to be injected into the circulating supply later.
The above mentioned 100 million XRP is likely to be part of that unlocked crypto.
Ripple and Whale Move 290 Million XRP
In addition to news about Ripple’s transactions, Whale Alert also saw several large transfers involving around 290 million XRP.
Large amounts of XRP were shifted from Bittrex exchange to Mexico-based Bitso and Bitstamp exchanges – 60,000,000 and 50,000,000 XRP.
Bitso also wired 101.8 million XRP between its internal addresses. This exchange runs one of Ripple’s liquidity corridors based on ODL (On-Demand Liquidity) technology, so it often operates with XRP, sells it, sends it to other exchanges or internally.
As for Ripple itself, it wired 30,000,000 XRP tokens to the Bitstamp exchange, which is also one of its ODL platforms. The transfer was conducted via the aforementioned RL18-VN wallet.
XRP price action as SEC lawsuit continues
Over the past three months, the 7-rank token XRP has been trading in the $0.3 range. In mid-June, XRP fell from the $0.40 area and traded in the $0.32 range for a few months.
At the end of July, it managed to briefly recover $0.4032 but after that went back to the $0.38-0.36 range again. Since August 19, the coin has been moving trading at the $0.34-$0.33 zone.
Ripple continues its legal battle against the SEC, which, as many in the XRP military believe, is the biggest factor keeping the coin’s price down.
