Nearly 90 million XRP have been moved to these ODL platforms of Ripple
Popular crypto tracker Whale Alert observed several large XRP transactions over the past 10 hours, moving around 90 million of this Ripple-affiliated digital currency.
In the meantime, over the last 24-hour period, the seventh largest crypto has added nearly 4% to its price.
Whales move 85 million on Ripple’s ODL platform
According to the above source of blockchain data, a wallet tagged as “unknown” by Whale Alert transferred two lumps of XRP to the Bitstamp exchange.
This platform is also one of the ODL corridors Ripple fintech giant works with to conduct seamless and low-cost transnational payments using XRP.
According to details reported by XRP-focused analytics website Bithomp, both transactions were made from addresses of BitGo, the largest crypto custody operator in the US.
It works with financial institutions, including Ripple itself and its numerous customers.
One of these XRP transfers made to Bitstamp was a transaction that moved 30,400,000 to one of Ripple’s ODL platforms: the Mexico-based Bitso cryptocurrency unicorn. It is the largest crypto exchange in Latin America.
According to details shared by Whale Alert, this was a movement of funds from one wallet belonging to Bitso to another wallet of the same exchange.
XRP Remains in Top 10 Despite Prolonged Trial
Recently, John Deaton, founder of Crypto Law, said that XRP is strong enough to remain in the top 10 list of coins according to Coinmarketcap, despite the protracted legal action against the company, its founder Chris Larsen and current chief executive Brad Garlinghouse. .
The lawsuit was initiated by the SEC in December 2020, and the regulator claims that XRP is an unregistered security. It also accuses the aforementioned top executives of Ripple Labs of making nearly $2 billion on selling XRP to institutional investors.
Deaton reminded the crypto community that prior to the suit, XRP was one of the top three cryptocurrencies from 2015 until the day it was raided by the SEC.
