Record 512 Million XRP Shifted by Ripple and Unknown Wallets: Report

AnalysisRecord 512 Million XRP Shifted by Ripple and Unknown...



Yuri Molchan

Ripple and anonymous whales transfer half a billion XRP

Contents

Whale Alert crypto tracking bot has detected three XRP transactions, carrying a total of 512.1 million XRP. They were conducted by Ripple fintech behemoth and wallets which Whale Alert tagged as “unknown”.

Record amounts of XRP on the move

In the last twenty hours, three staggering chunks of XRP have been transferred, according to the tweets posted by the crypto tracker mentioned above.

Ripple giant moved 50 million XRP – the smallest lump of these three – to its reserve wallet RL18-VN often used for transferring crypto beyond the company – to charities, exchanges and financial institutions.

The other two chunks of Ripple-affiliated tokens contained 226,439,980 and 235,725,280 XRP worth $163,244,540 and $170,121,600. The total equivalent of the shifted XRP amount comprises roughly $370 million.

Ads

Whale Alert has tagged the senders and receivers of these two XRP amounts as “unknown” addresses but XRP-focused data platform Bithomp shows that in both cases the sender and the receiver was the Uphold crypto exchange that moved the funds internally.

XRP_890hjkWA_890hjknm12300
Image via Twitter

Ripple CEO criticizes crypto tribalism

In a recent interview to CNBC, head of Ripple Labs Brad Garlinghouse bashed tribalism in the crypto industry, stating that this a major issue of the space that slows down its improvement on a big scale.

Garlinghouse himself holds Bitcoin and Ethereum, apart from XRP, and as a former executive at Yahoo, he saw a lot of companies that managed to co-exist well enough during the dot-com boom in the 1990s.

Now, Garlinghouse is shocked at the lack of coordination between the leaders of crypto companies and communities and absence of adequate regulation from the US authorities, as he admitted in the interview.

Since December 2020, Ripple Labs has been struggling to win against the SEC in the lawsuit filed by the regulatory agency, and Garlinghouse has many times stated that the SEC’s goal is to impose a strict control on the whole crypto space, and they have basically picked Ripple as a scapegoat.



Learn more

Latest news

Cardano Discloses Encouraging On-Chain Stats for September, Here’s Detailed Insight

Gamza Khanzadaev Cardano reveals on-chain insights of September, stats are encouraging As the first month of fall comes to a...

After Cardano (ADA), DCG Subsidiary Luno Adds Support for Solana (SOL)

Alex Dovbnya Cryptocurrency exchange Luno has listed Solana (SOL) cryptocurrency shortly after adding Cardano (ADA) Cryptocurrency exchange Luno has added...

Zcash May Be Getting Spammed, but the Blockchain is Doing Just Fine, the Company Behind it Says

The Electronic Coin Company, the organization behind Zcash, claims that concerns of a spam attack are mostly just...

Kanye West unloads on Josh Kushner over investment in Kim Kardashian’s SKIMS

Kanye West unloaded on Josh Kushner over his investments in Kim Kardashian’s underwear line in a bizarre...

DOGE and SHIB Price Analysis for October 6

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It...

Must read

Cardano Discloses Encouraging On-Chain Stats for September, Here’s Detailed Insight

Gamza Khanzadaev Cardano reveals on-chain insights of September, stats...

After Cardano (ADA), DCG Subsidiary Luno Adds Support for Solana (SOL)

Alex Dovbnya Cryptocurrency exchange Luno has listed Solana (SOL)...

Zcash May Be Getting Spammed, but the Blockchain is Doing Just Fine, the Company Behind it Says

The Electronic Coin Company, the organization behind Zcash,...

You might also likeRELATED
Recommended to you