Data shared by Whale Alert blockchain tracking service shows that in the past 20 hours, a jaw-dropping amount of Ripple-affiliated XRP has been shifted by multiple players in the crypto space. These include Ripple tech monster, several of its ODL corridors and popular exchanges like Binance.
The XRP has shifted in huge chunks
The crypto tracker team has spread the word that in the past 20 hours, 23 XRP chunks have been shifted by major crypto trading platforms and the Ripple tech behemoth. Some were worth over 200 million XRP
Ripple sent 65,000,000 XRP to its RL18-VN wallet. It is commonly used for sending XRP to external wallets, to customers, financial institutions and exchanges, as well as selling XRP to cover the company’s operational expenses. Later, 10,000,000 coins from this wallet went to the Philippines-based Coins.ph exchange. This exchange operates as an ODL platform in the country.
Another Ripple ODL platform, crypto unicorn Bitso, received 20,000,000 XRP from the Bittrex exchange. Bitso reportedly shifted 20,100,000 XRP internally.
The largest trades among these 23 transfers were made by anonymous whales and Coinone exchange: 225,110,270 and 249,999,980 XRP. That is $227,928,050 and $247,283,180 respectively. These transactions were also noticed by the crypto tracker Whale Alert.
Among the other participants who sent and received XRP are Binance, BitGo, FTX exchange, Kraken and South Korean platform Bithumb. Binance shifted 120 million XRP and Bithumb 90 million between its wallets.
Also, 191.4 million XRP were scooped between various anonymous crypto addresses. The total amount of XRP (1.176 billion) transferred this time is equivalent to approximately $1.08 billion at current prices. 1 XRP is currently trading for about 92 cents.
— Whale Alert (@whale_alert) Dec 24, 2021
Ripple’s Strongest Year Despite SEC Issues
In a Twitter thread published earlier this week, Ripple CEO Brad Garlinghouse stated that 2021 has been the strongest year for the company. The legal war with the SEC did not throw a spanner in the works.
According to Garlinghouse, the On-Demand Liquidity solution powered by XRP now accounts for a quarter of the total volume of USD transferred through the RippleNet network. Two new ODL corridors have also been opened: in Japan and the United Arab Emirates (UAE).
The lawsuit was initiated by the SEC in the last 10 days of December 2020. It is still not over as both sides continue to score victories against each other in court.