100 Million $XRP Was Moved!

3 large XRP transactions today

According to Whale Alert, Ripple Labs has completed the transfer of around 100 million XRP tokens after locking 800 million tokens in escrow.

Meanwhile, the XRP token has had a mild growth of almost 8% during the last two days before shedding 5.16%.

According to data released by the tracking site Whale Alert, Ripple, the Bitstamp exchange, and an unknown wallet made three significant XRP transactions in the last 16 hours.

Ripple shifted 50 million tokens or over half of the wired XRP amount. This is equal to $39,317,676 in fiat.

Bitstamp moved a total of 25,572,560 XRP worth $19,630,320. The remaining XRP was sent to Bitstamp from an anonymous wallet.

However, data from the Bithomp platform, which focuses on XRP and transactions related to it, revealed that the “unknown wallet” referred to by Whale Alert is actually the U.S.-based Bittrex exchange.

The 25.5 million XRP went to the BitGo crypto custody platform, which was purchased by Galaxy Digital last year, according to the same source of XRP-related statistics.

The total amount of XRP stated above is $73,865,231 in fiat.

Following the planned timetable of withdrawals since 2017, Ripple released a stunning billion XRP worth around $776 million. Today, Ripple completed three transactions to lock 800 million of that billion back in escrow.

The remaining $200 million will go toward covering Ripple’s operating costs and ensuring the coin’s liquidity on digital exchanges. A portion of it may be sent to the company’s numerous consumers in different regions of the globe.

The value of 800 million XRP in fiat currency is $615,543,593.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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