Ripple Moves Millions in XRP to Bitstamp
Big XRP coin transfers are happening, and Ripple Labs might be involved. XRP's price has changed, and big investors are buying more.
Big movements of XRP coins have been seen, and data suggests that the big company Ripple Labs is a part of this.
Whale Alert, a famous blockchain tracker, keeps seeing big daily transfers of XRP coins made by unknown big holders. Recently, it saw a large transfer of tens of millions of XRP between exchanges. One of these big transfers seems to be connected to Ripple Labs. In all, 55.3 million XRP was moved. 30 million XRP was taken out of Bybit and 25.3 million XRP was sent to Bitstamp.
Whale Alert's information shows that 30 million XRP was moved from Bybit to a safe storage. The 25.3 million XRP sent to Bitstamp was done by a wallet linked to Ripple Labs, a big tech company in the U.S.
Bitstamp is working with Ripple on a payment system that used to be called On-Demand Liquidity (ODL). This system uses XRP for quick international payments without needing pre-set accounts. Lately, Whale Alert has seen many transfers from this Ripple-connected wallet to Bitstamp and another exchange called Bitso.
Bitstamp is Ripple's main partner in Europe, and Bitso does the same in Latin America. About a week ago, it was seen that Ripple itself moved 70 million XRP coins.
XRP's price went up a little, almost 6% in 24 hours, reaching $0.58186 from $0.55009. But it then went down a bit to $0.57227. In the past week, XRP, which is connected to Ripple, has increased by 5.73%. As its price changed, big holders started to buy more, showing they still believe in XRP's future.
