Ripple Moves Astonishing 115 Million XRP, Selling Part of It at Loss


21 Nov 2023 10:24 AM

Fintech giant Ripple spotted transferring more than 115 million XRP, along with anonymous wallet shoveling 85 million XRP...

  • Whale Alert, a popular crypto tracking platform, has detected three XRP transfers totaling 200 million XRP.
  • The majority of the transfers were made by Ripple Labs, a crypto decacorn.
  • The transfers included 25.5 million XRP, 85 million XRP, and 90 million XRP.
  • The 85 million XRP transfer was made from one anonymous wallet to another, potentially for later conversion into fiat.
  • Ripple releases around 200 million XRP from escrow every month, with a portion used for operating expenses and supporting the coin's circulating supply.
  • The 25.5 million XRP transfer was made by Ripple Labs to the Bitstamp exchange to support one of Ripple's ODL corridors.

The sentiment of the article is neutral, providing factual information about the XRP transfers and Ripple's involvement.

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You May Ask

How much XRP was transferred in total?Who made the majority of the transfers?What is the purpose of Ripple releasing XRP from escrow?What is the role of Bitstamp in supporting Ripple's ODL corridors?What is the sentiment of the article?

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