Ripple Moves 100M XRP, In Total 224M XRP Moved Around Exchanges and Unknown Wallets in 24 Hours

Ripple Moves 100M XRP, In Total 224M XRP Moved Around Exchanges and Unknown Wallets in 24 Hours

Another set of XRP whale transactions has been recorded over the last 24 hours.  

Large movements of Ripple (XRP) between exchanges and unknown wallets have recently been recorded. Over the last 24 hours, a total of 224,877,206 XRP (224.87 million XRP coins) have flowed between cryptocurrency exchanges and unknown wallets and vice versa. 

Breakdown of the XRP Transactions

According to cryptocurrency whale data tracking service Whale Alert, the first transaction saw 80 million XRP coins worth around $30 million transferred from FTX exchange to an unknown wallet. 

Whale Alert reported that 40 million XRP coins, valued at $14.85 million, were moved from an unknown wallet to the Bitstamp cryptocurrency exchange. 

A few hours later, 44,877,206 XRP coins ($16.62 million) were transferred from the Bitstamp exchange to a different unknown wallet. 

Furthermore, Whale Alert shared transaction details of another large XRP movement that flowed from an unknown wallet to the Bitso exchange. 

Seeing large amounts of XRP flow between exchanges and unknown wallets is gradually becoming a daily routine. As reported by TheCryptoBasic, hundreds of millions of XRP tokens have been transferred from exchanges to unknown wallets and vice versa this week. 

Ripple Transfers 100 Million XRP to Unknown Wallet

Interestingly, the popular Silicon Valley tech company Ripple itself was also involved in the large flows of XRP coins. Whale Alert noted that the blockchain company transferred 100 million XRP ($37.18 million) to an unknown wallet.

The transaction made by Ripple came a few days after the company unlocked 1 billion XRP from its escrow wallet. The move is part of the company’s monthly XRP unlock the program. 

In its bid to keep the price of XRP stable, Ripple locked back over 700 million XRP coins, while the remaining coins would be used to cater to the company’s daily expenses. 

It will not be surprising to know that the 100 million XRP moved by Ripple to an unknown wallet yesterday are part of the remaining unlocked coins. 

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Original Source :thecryptobasic.com

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