Whale Alert, a cryptocurrency data platform that tracks large cryptocurrency transfers, has been reportingĀ the movement of Ripple (XRP) by high net worth investors.Ā
Over the past 24 hours, a total of 170,388,591 (170.38 million) were moved by Ripple whale investors. At the current XRP exchange rate of $0.47, the fund is valued at around $157.68 million.Ā
According to the whale tracking service, an anonymous whale moved 60 million XRP from an unknown wallet to Bitstamp. The transaction, which took place earlier today, was worth $28.93 million at the time.Ā
Other Large XRP Transfers
Whale Alert also tracked yet another large XRP transaction involving an address on the Bitstamp cryptocurrency exchange. A total of 64,088,591 (64.08 million) XRP were transferred to an unknown wallet from Bitstamp.Ā
According to data from Whale Alert, the fund was worth $30.81 million at the time of the transaction.Ā
In a similar development, a total of 22.3 million XRP coins ($10.71 million) were sent to an unknown wallet from an address on Bitso.Ā
Furthermore, an anonymous Ripple whale withdrew 24 million XRP worth $11.29 million from Bitstamp.Ā
Rising Demand in Rippleās ODL
In this latest round of large XRP transfers, Bitso and Bitstamp were the only cryptocurrency exchanges involved. It is worth mentioning that both crypto trading platforms are official partners of Rippleās On-Demand Liquidity (ODL) service, a payment solution that uses XRP as a bridge currency.Ā
Interests in Rippleās ODL have been on the increase in recent times, as different payment giants adopt the solution to bypass the issues associated with the traditional financial system. Several clients have used both crypto trading platforms to purchase XRP in order to meet their ODL needs.Ā Ā
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