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250 Million XRP Transferred in One Move to Bitstamp, While XRP Holds Above $0.7

Blockchain data recently shared by the Whale Alert platform, that tracks large movements of cryptocurrencies, shows that in the past fifteen hours an astounding lump of 250 million XRP tokens has been transferred to the Bitstamp exchange.

Meanwhile, Ripple continues sending XRP to the Huobi trading platform to support the coin’s liquidity.

250 million XRP on the move

Over the past fifteen hours, the Whale Alert team has spotted a 250 million XRP stash sent to the Bitstamp crypto trading venue with the headquarters located in Luxembourg.

The transaction was made by an anonymous sender, however, the detailed provided by the XRP analytics service Bithomp show that the massive amount of crypto was transferred by the Uphold exchange.

250 million XRP coins constitutes a whopping $177,293,560 in fiat.

Ripple keeps sending millions of XRP to Huobi

As part of providing its customers and partners (including crypto exchanges) with XRP, Ripple blockchain technology provider continues sending crypto to the Huobi exchange based in China.

Previously, U.Today has covered that Ripple conducted regular daily XRP transactions to Huobi varying from over 7 million XRP to 1.4 million XRP.

Over the past three days, the San-Francisco-based tech behemoth has moved 5,390,100 XRP to the Chinese crypto exchange – three transfers by 1,796,700 coins.

In the week before that the XRP daily transfers totalled 1,586,950 coins.

Ripple sends 182.3 million XRP to Jed McCaleb

On August 1, Ripple transferred another crypto stash to its cofounder and former chief tech officer Jed McCaleb. On that day, the decacorn moved 182.3 million XRP to his “tacostand” digital wallet.

McCaleb left Opencoin (later renamed into Ripple Labs) in 2013 over failing to come to an agreement with the other cofounder, Christopher Larsen, over the company’s further development. Since then Jed has been receiving eight billion XRP in lumps as a compensation.

Prior to that, McCaleb received 291.5 million XRP from Ripple on July 6. In July he dumped over 150 million XRP onto the market and May, he sold 453 million XRP.

The community expects Jed’s XRP holdings to go down to zero by the end of August or in September, depending on how fast he will be selling his coins.

As of this writing, the sixth largest cryptocurrency, XRP, is changing hands at $0.7061, as per the data provided by CoinMarketCap.

   

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