Ripple and Binance transferred nearly 80 million XRP, also sent its part to a recently launched ODL corridor

As of now, Ripple, Binance – the most regulator-battered crypto exchange at the moment – and several unknown wallets have moved nearly 80 million XRP over the past 18 hours.


Nearly 70 million XRP shifted by Ripple and Binance

In the last 2 hours, over $10 million worth of XRP, or 9,262,000 tokens, was transferred from an anonymous wallet to the Bitstamp exchange. Meanwhile, Binance has sent 50 million XRP ($61,613,496) to China-based Huobi. Ripple moved the remaining 10 million XRP tokens to the Coins.ph crypto trading platform based in the Philippines. The transaction was made via one of Ripple’s wallets: RL43-EE.

As AZCoin News reported, the blockchain company behind XRP is expanding on-demand liquidity (ODL) services in the Asia Pacific region with the launch of the first-ever live ODL in Japan. It allows users to convert yen first to XRP and then to the Philippine peso.

ODL allows for conducting cheaper remittances, thus solving the problem for many countries, including Japan. SBI in Japan chose a local crypto exchange for this in the Philippines, Coins.ph.

Most recently, 9,516,324 XRP, equivalent to 11,567,164, transferred from Bitfinex to unknown wallet.


Source: Whale Alert

The total amount of XRP transferred by Binance and Ripple constitutes $96,107,587 in fiat. A few days ago, XRP price demonstrated a spike to $1.33, up 24.57%. According to Santiment, this price action was triggered by a rise in XRPL development activity on Github.


XRP/USD 4-hour chart | Source: TradingView

By now, however, the price has gone down, and XRP is changing hands at $1.21. The XRP community, however, remains optimistic as XRP has managed to stay above the $1 line since August 12.

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