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HomeCrypto NewsMarket200M XRP Leaves Ripple OTC Distribution Wallet, In Total 410 Million XRP On The Move In 24 Hours

200M XRP Leaves Ripple OTC Distribution Wallet, In Total 410 Million XRP On The Move In 24 Hours

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Lele Jima

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Over 410 Million XRP Transferred Among Ripple, Exchanges, and Unknown Wallets in 24 Hours.


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Whale Alert shares more details of large XRP movements in the last 24 hours.

Whale Alert, a cryptocurrency whale tracking platform, keeps providing updates about large movements of XRP among centralized exchanges, Ripple, and unknown wallets.

Only last week, Whale Alert reported the transfer of over a billion XRP among Ripple, selected exchanges, and anonymous wallets. This week has also started on a good note, with an enormous amount of XRP transferred so far.  

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Over the last 24 hours, no less than 410 million XRP coins have moved across various wallets. According to data shared by the crypto whale tracking service, a total of 412,737,001 (412.73 million) XRP coins have been transferred among various wallets, including Ripple’s OTC address. At the time of writing, the coins were worth almost $155.6 million. 

Firstly, 75 million XRP coins were transferred from leading cryptocurrency exchange FTX to an address belonging to an unidentified person or group. The coins were worth $28.5 million at the time of the transaction. 

A few hours later, a large amount of XRP was seen leaving Ripple’s OTC distribution wallet to an unknown wallet. Per Whale Alert, a total of 200 million XRP coins, worth $76.42 million, were transferred from the blockchain company’s Over-the-Counter (OTC) wallet to an unnamed address. 

Additionally, Whale Alert reported the movement of 30 million XRP ($11.36 million) from an anonymous wallet to Bitstamp exchange, a member of Ripple’s ecosystem. 

Bitstamp has been involved in nearly all XRP movements in recent weeks. The trading platform was also used by Jed McCaleb, Ripple’s former CTO, to sell his last XRP holdings, as reported by TheCryptoBasic. 

The cryptocurrency exchange was also involved in another large XRP movement in the last 24 hours. This time, a total of 30,137,001 XRP coins ($11.35 million) were transferred from Bitstamp to an unknown wallet. 

Whale Alert also saw 40 million XRP coins, worth $15.06 million, moved from an unknown wallet to Bitso exchange, another member of Ripple’s ecosystem. 

As shared by Whale Alert, 37.6 million Ripple coins, worth around $14.16 million, flowed from the Bitso exchange to an unknown cryptocurrency wallet. 

Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Author

Lele Jima
Lele Jima
Lele Jima is a cryptocurrency enthusiast and journalist who is focused on educating people about how the nascent asset class is transforming the world. Aside from cryptocurrency-related activities, Jima is a lover of sports and music.

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