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Ripple Makes $94.3 Million XRP Transactions to Unknown Wallet

With XRP pushed down the pecking order and replaced in their position by USDT in crypto ranking by transaction volume and has consequently moved to fourth position, the coin is still gaining interest of major crypto players. Over the last few hours, a crypto bot that tracks transaction has raised alarm over the massive transfer in XRP ranging from 10 million to 50 million. The total amount of XRP that has been moved in the last days has been noted to be around $293 million.

Out of the massive transfers made, Ripple were responsible for solely transferring a total of $94.3 million worth of XRP to an unknown wallet and some digital platforms. Ripples ODL platform played a major part in the transfer of the funds to the other wallets.

Ripple and Bitso ODL platforms involved in movement of $107.3 worth of XRP

According to a data submitted by XRPL monitor, San Francisco based crypto outfit, Ripple has moved XRP worth $94.3 million in the last fifteen hours. Little fragments of XRP worth $10, $23.3 and $10.02 million were sent out custodian crypto exchange, BitGo and and South Korean based crypto exchange, Bithumb. Furthermore, it was reported that XRP worth $50 million left Ripple funding wallet to an unknown address. Mexico based exchange, Bitso who happens to be Ripples largest ODL was reported to have made two small scale transfers of XRP worth $6.5 million.  Block.one Announces EOSIO Virtual Hackathon in Response to COVID-19

$187 million moved by crypto exchanges in fragments

After all the previous transactions were done, the remaining amount of $294.3 million worth of XRP was transferred between other big companies in the crypto industry. Firms like Bitbank, Bithumb, BitGo and Liquid were part of the crypto exchange firms that were involved in the transactions. Out of the transfers, Bithumb was responsible for moving XRP worth $48 million in two different transactions while BitGo moved as much as $50 million in XRP.

With Ripple aiming to have a global reach and adoption of its digital asset, a lot of big game players in the crypto community are finding it relatively easier to make huge transactions via XRP. Ripple chief and CEO, Brad Garlinghouse has stated that the sole aim of the XRP network was to make adoption easy. “I’ve publicly stated that by the end of this year I have every confidence that major banks will use XRP as a payment and liquidity tool,”

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