Ripple and several major exchanges have transferred over 335 million XRP, while the coin’s price continues to drop
The Whale Alert crypto tracking service that focuses on tracking large crypto transactions has detected a number of transactions involving a large amount of the Ripple-affiliated token XRP.
Ripple has transferred over 330 million tokens with the fintech giant taking an active part in moving these funds on the blockchain.
At the same time, XRP has seen a decline of 4.71 percent in the last twenty four hours.
335 million XRP tarred by top platforms
Whale Alert posted a series of tweets to spread the word about seven major XRP transactions. The largest Ripple blockchain was created by Monster as it moved 70,000,000 coins to one of its reserve wallets – RL18-VN.
This company wallet is used to take crypto beyond Ripple – to cover its customers, exchanges and operating expenses.
This amount of XRP is valued at $26,718,456 at the current exchange rate.
70,000,000 #XRP (26,718,456 USD) transferred from Ripple to unknown wallethttps://t.co/OlXBW8BjNx
— Whale Alert (@whale_alert) 10 June 2022
A slightly larger amount was kicked off by Mexico-based Bitso exchange – 74,800,000 XRP. Bitso is a crypto unicorn, the only one in Latin America, and a company that Ripple invested an undisclosed amount of in the fall of 2019, asking the exchange to offer faster and lower costs on its On-Demand Liquidity (ODL) service. made him a partner. Transfer of funds leveraging XRP.
The remaining five transactions resulted in approximately 30 million and 40 million XRP bales from exchanges like Bitstamp, Bittrex, etc.