Investors Re-shuffle Over 70 Million XRP Between Bitstamp Exchange And Different Unknown Wallets As It Soars

Following the recent XRP rally, a massive movement of XRP tokens has been occurring as the whales re-shuffle the token between Bitstamp and different Wallets over the past 24 hours.

Bitstamp Transfers Over 70 Million XRP

Per Whale Alert, a whopping 70,339,320 million (70.33 million) XRP were re-shuffled between the Bitstamp cryptocurrency exchange and different unknown wallets over the past 24 hours. The total moved XRP token according to coingecko worth around $36.57 million at $0.52.

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Transaction details:

  • A whopping 25 million XRP tokens worth $12.88 million were moved from an unknown wallet to one of Ripple’s official On-Demand Liquidity (ODL) partners, Bitstamp. 
  • Another whopping 20 million worth 10.33 million were moved to Bitstamp from an anonymous wallet.
  • Bitstamp exchange address transferred a total of 25,339,320 (25.33 million) XRP worth $13.13 million sent to an unknown wallet.

XRP Recently Soared 8% In The Last 24 Hours

Earlier this morning, cryptolifedigital, reported that XRP spiked over 70% over the past 30 days and 8% in the last 24 hours.

It is said that the current rally of the XRP token could be an indication that the ongoing lawsuit between Ripple and SEC will favour the blockchain company.

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Ripple Filed Against Third Parties’ motions As Companies filed In Favor Of Ripple

Many companies have been reported requested to file an amicus in favour of Ripple In the ongoing lawsuit although, the SEC filed against third parties’ motion. Companies like I-Remit and TapJet have recently requested to file an amicus in favour of Ripple.

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Dr. Olajide Samuel juggles the demands of medical studies with a passion for cryptocurrency. A seasoned blogger, Olajide shares his vast global knowledge of the crypto space, offering insights to enthusiasts. Despite his busy schedule, his commitment to crypto remains strong, and he actively seeks ways to contribute to its future.