Ripple and a few leading crypto exchanges have moved almost 140 million XRP amongst each other in the last 24-hours
In the last 24 hours, there have been five large XRP transactions, with five large transfers carrying 138 million XRP. This is equivalent to $137,529,292. This process took place throughout Ripple native token’s rally, from $0.8 to $1.09.
138 million XRP shifted by Ripple and top-tier global exchanges
In the last 24 hours, several top crypto exchanges and Ripple have transferred the equivalent of $137.5 million in crypto – 138 million XRP. In total, they are divided into five transactions, a minimum of 13 million XRP and a maximum of 50 million in a single transaction. Among the senders were Binance, Huobi, and Bittrex.
Source: Whale Alert
As shown in the image above, it can be seen that Ripple transferred 20 million XRP from its RL18-VN wallet to its Mexico-based partner, the Bitso exchange. That is the largest crypto trading venue in Latin America and the only crypto unicorn in this region. Ripple’s RL18-VN distributes XRP from Ripple to its customers, partners, and crypto exchanges to support the liquidity of XRP.
Huobi then transferred 30 million XRP to Binance. And then, the world’s largest crypto exchange transferred 50 million XRP to Huobi. However, Whale Alert deleted the XRP as mentioned above transfer data at the time of writing without commenting on it. Information about 13,000,000 XRP transferred from Bittrex to an unknown wallet was also deleted by Whale Alert.
Previously, as AZCoin News reported, in the past 14 days, former Ripple Labs CTO Jed McCaleb sold around 80 million XRP after receiving 182.3 million XRP from Ripple earlier this month. He has been selling from 4.4 million to 6.5 million XRP every day in August so far. According to XRPscan, Jed has sold another 6,558,019 XRP. At the moment, 640,040,127 coins remain on the balance of his “tacostand” crypto wallet created when Ripple was founded with McCaleb’s assistance. Jed was the company’s first chief technology officer until he left to found rival Stellar in 2013.
Since then, McCaleb has been getting regular XRP payouts from Ripple instead of a one-time payment worth eight billion XRP. Thus, the company prevented Jed from dumping this considerable amount on the market all at once and prevented a collapse of the XRP price eight years ago.
XRP/USD 4-hour chart | Source: TradingView
On August 11th, XRP managed to surge as high as the $1.09 from $0.80 briefly, and then it rolled back. At press time, XRP is changing hands at $1.01, recorded a 13% increase on the day.
Read more:
- Ripple Collaborated GME To Speed Up Remittances, XRP Price Reached A High Of $0.9
- In The Past 14 Days, Jed McCaleb Sold Approximately 80 Million XRP From His Shrinking Holdings