Almost 240 million XRP has been wired in the past thirteen hours at price at $0.74

Over the past 13 hours, nearly 240 million XRP have been transferred within the last 12 hours, from Ripple, exchanges, and anonymous wallets.

240 million XRP shifted by Ripple and exchanges, while XRP sits at $0.74

Ripple Labs has participated in moving these funds by sending one-fourth of that XRP amount. The first two transactions took place 13 hours ago, transferred from Ripple to two anonymous wallets, for a total of 55,000,000 XRP tokens, or $38,867,342.

The blockchain tech provider itself has taken part in these transfers, moving 40 million and then 15 million XRP to its internal wallets: RL18-VN and an anonymous address with Ripple’s RL43-EE wallet behind it.

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RL18-VN is regularly used by Ripple to send XRP outside the company – to its partners, customers, and to crypto exchanges to support the coin’s liquidity as the CEO Brad Garlinghouse has stated several times in the past.

After that, more than 180 million XRP transactions continued to be made. The largest part was transferred by the Bybit exchange to Binance. Bybit captured an incredible 131,507,931 XRP in one storage. This transfer was made about three hours ago.

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Among the smaller transfers was 30 million XRP transferred by major exchange Bittrex to crypto exchange Upbit. The Gopax platform also sent 23,150,000 XRP two hours ago to Binance, so the world’s largest exchange by volume received 154,657,931 XRP. That equates to $115,712,878.

Meanwhile, XRP is changing hands at the $0.74 mark, according to CoinMarketCap.

August 1 will come later this week and Ripple Labs will automatically release another 1 billion XRP coins from escrow. It has been doing so every month since 2018 in an attempt to support the coin’s liquidity and cover the company’s operational expenses.

Over the past few years, this is the small part of the released XRP has been used to do. The rest of the unleashed XRP (800 million, sometimes 900 million) is locked in escrow.

Ripple – which was taken to court by the U.S. Securities and Exchange Commission for allegedly violating the federal securities laws with its XRP sales – saw its trading volume soaring to $4.4 billion in the second quarter of the year, logging a 98% quarter-over-quarter increase.

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