Huge XRP Transactions Continued Directly From Ripple Addresses
The new week continued with new multimillion-dollar XRP transfers in and around Ripple’s various On-Demand Liquidity (ODL) hubs. Recipients of the multimillion-dollar transaction included well-known centralized exchanges, members of the Ripple ecosystem such as Mexico’s Bitso, Bitstamp, and the same unknown wallet. However, the stakes have risen in recent weeks, with XRP trading through these schemes now exceeding hundreds of millions of tokens.
Thanks to Crypto Whale Tracking Service whale alert, it became known that 100 million XRP worth $37.1 million was sent from Ripple wallet to an unknown wallet earlier today, and these funds were then redistributed in the ratio of 60:40 between Bitso and Bitstamp respectively. In addition, it is worth noting that money remained on Bitso, or at least not withdrawn in large quantities, on Bitstamp, XRP traded and then moved to another unknown wallet.
What will Ripple do with the millions of XRP?
As you may have noticed, Ripple is now actively dealing with XRP liquidity. Millions of coins are unlocked, transferred between addresses and then locked back into the company’s escrow account almost every day.
This fact is not surprising, as according to a recent report by Ripple, the increasing spread of its ODL directly increased the company’s sales. As the amount of use of these liquidity “corridors” increases, so does the volume of transactions constantly fluctuating between locations.
Ripple’s success in this area is clear – look at the recent connection of FOMO Pay, one of Singapore’s leading payment systems, to the company’s ODL infrastructure. If things continue like this, we can expect to hear more positive news about the company’s activities in the future.