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BCH $635.08 (2.87%)
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Whale Alert: 250 Million XRP Moved To Bitstamp

Whale Alert 250 Million XRP Moved To Bitstamp
  • Whale Alert catches a huge XRP transaction.
  • 250 XRP made its way to Bitstamp.
  • Ripple has been sending XRP to Huobi exchange.

All eyes are on XRP as Whale Alert notified the crypto space about the relocation of a massive bundle of XRP. In particular, it seems that 250 XRP tokens made their way onto Bitstamp exchange in the form of one lonesome transfer.

Specifically, Whale Alert — an advanced blockchain tracker and analytics system, found a large transfer of XRP tokens. The platform aims to notify the crypto space of any giant transfers in any crypto as it takes place.

In detail, this transfer of 250 million XRP tokens took place over the past 15 hours. Although the transaction came from an anonymous sender, we know for certain that the funds arrived onto Bitstamp.

However, the XRP analytics service — Bithomp, shares additional information that confirms that the amount came from the Uphold exchange. Moreover, in converting the 250 million XRP we can see that it amounts to an astounding sum of $177,293,560 in fiat.

Meanwhile, Ripple is sending XRP to the China-based Huobi exchange. This seems to be part of an ongoing process of Ripple providing its customers and partners with XRP. To highlight, U.Today has recorded XRP transactions from Ripple to Huobi that varies from over 7 – 1.4 million XRP.

Furthermore, Ripple has mover over 5,390,100 XRP to Huobi exchange. To count, it sent the funds in 3 transfers of 1,796,700 tokens each, give or take. More so, a week ago, the daily XRP transfers are recorded at 1,586,950 tokens.

Another incident to note is that on August 1, 2021, Ripple sent 182.3 million XRP to its co-founder — Jed McCaleb. The man left Ripple Labs in 2013 and has been receiving chunks of XRP since. In total, he will receive 8 Billion XRP.     

McCaleb is likely to dump all his XRP into the market like he did earlier last month. Specifically, he got 291.5 million XRP early in July and went on to more than 150 million XRP. Additionally, in May he sold 453 million XRP.

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