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Home Crypto News Market Large Movements of Ripple (XRP) Continue, 595 Million Moved In 24 Hours

Large Movements of Ripple (XRP) Continue, 595 Million Moved In 24 Hours

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Large movements of XRP have continued to be recorded lately. 



As interest in Ripple’s On-Demand Liquidity (ODL) increases, there has been a large movement of multimillion-dollar XRP transfers this month. 

The funds have flowed around popular cryptocurrency exchanges, including selected members of Ripple’s ecosystem Bitso and Bitstamp, as well as unknown wallets. 

Cryptocurrency whale tracking service Whale Alert has shared developments about hundreds of millions of XRP movements involving unknown wallets and cryptocurrency exchanges since the beginning of this week. 

XRP Movement Around Exchanges and Unknown Wallets

Over the last 24 hours, the popular cryptocurrency whale tracking service reported that a total of 595,256,914 (595.26 million) XRP coins had been transferred between exchanges and unknown wallets. 

First, 32 million XRP worth $11.84 million were moved from an unknown wallet to the Bitstamp exchange. 

At the same time, 27.5 million XRP ($10.11 million) were transferred from OkeX to an unknown wallet. 

After a while, Whale Alert shared data of another large XRP movement, which saw a total of 134.75 million Ripple coins ($50.1 million) moved from an unknown wallet to another unknown wallet. 

Another large XRP transaction was also recorded a few hours later. This time, a total of 200 million XRP ($74.68 million) were transferred between the unknown wallets. 

In the early hours of today, Whale Alert reported that 60 million XRP ($22.48 million) were transferred from an unknown wallet to Bitstamp. Another 60 million XRP ($22.48 million) was also sent from an anonymous address to Bitso. 

 

An additional 30 million XRP coins worth $11.21 million at the time of the transaction were also sent to Bitso by an unknown wallet. 

Immediately after these transactions, Whale Alert noted that a total of 51,006,914 (51 million) XRP, worth $19.1 million, were sent from the Bitstamp exchange to an unknown wallet. 

Whale XRP Transactions Soars Amid Rising ODL Demand

Large XRP transactions have been frequent in recent times. This comes as Ripple disclosed in its Q2, 2022 financial report that more clients are increasingly demanding ODL solutions

As reported by TheCryptoBasic, Ripple noted that it sold $408.9 million worth of XRP to ODL customers as ODL volume surged 9x YoY. 

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Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Albert
Albert Brownhttps://thecryptobasic.com/
Albert Brown is a cryptocurrency investor and journalist who has been in the nascent space since 2017. His love and passion for technological innovations made him delve deeper into the world of blockchain and cryptocurrencies. As a journalist, Brown has written on several crypto-related topics that have been referenced by popular industry players like Tyler Winklevoss, Binance CZ, etc.

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