Ripple has taken part in moving a staggering amount of XRP, sending crypto to these platforms
Ripple and several major digital exchanges transferred a whopping 115.3 million XRP. In it, the San Francisco-based technology company transferred more than half of the total amount.
115.3M XRP sent by Ripple and large exchanges to this destination
About 15 hours ago, the blockchain company was spotted making two significant transfers totaling 70 million XRP. These transactions carry 50,000,000 and 20,000,000 tokens.
One of Ripple’s reserve wallets — RL18-VN — was involved in both transactions. That was the destination of 50 million XRP, and from there, 20 million was sent to Coins.ph, a Ripple-powered On-Demand Liquidity (ODL) platform operating in the Philippines.
🚨 🚨 🚨 50,000,000 #XRP (32,663,218 USD) transferred from Ripple to unknown wallethttps://t.co/8IlXHsfcN0
— Whale Alert (@whale_alert) April 26, 2022
The remainder of the aforementioned XRP was sent from Bittrex to Bitstamp (30,000,000 XRP) and via the Coinone exchange (15,335,267 XRP). The total amount of XRP coined by Ripple and the exchanges constitutes $74,814,502.
In a recent interview with Bloomberg, Ripple chief executive officer, Garlinghouse, stated that the company has acted as if the legal case with the SEC had been lost, meaning that the potential victory of the regulator over them will hardly have a significant impact on the company’s business.
The CEO claims that 2022 has by far seen the biggest growth for Ripple outside of the US, with the company hiring many new employees. 99% of Ripple’s customers live outside of the US. This is happening while the company-linked XRP token is virtually illiquid in the US after a large number of top and small exchanges halted XRP trading in 2021 following when the SEC legal action was filed, accusing Ripple, its CEO, and one of its founders of trading “unregistered securities” in the form of XRP.
The boss of Ripple believes that this war with the SEC is not just about Ripple, as it is harming the entire crypto industry. In addition, he accused the regulator’s lawyers of concealing notes related to the case while insisting it was all for transparency and disclosure, adding that the SEC is doing its best to delay justice in this case.
Read more:
- SEC Fought Hard To Keep Emails Private In The On-Going Lawsuit With Ripple
- XRP Price Continued Its Correction Trend, Falling To $0.64, Its Lowest Level Since Feb. 28