An astounding quantity of XRP was transferred from an unknown wallet to a cryptocurrency exchange on October 10 – around 18 hours ago, according to cryptocurrency tracking website Whale Alert.
This transfer, which was started by an unidentified blockchain address, ended up at the Bitstamp exchange. Nevertheless, information about that transaction from a different source assisted in identifying the sender’s real identity.
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Understanding Ripple’s XRP Sale at a Loss,Understanding Ripple’s XRP Sale at a Loss
Moving 30.7 million XRP, XRP price decrease A Bitstamp wallet received 30,700,000 XRP, valued at $15,315,061 in currency, according to a tweet by Whale Alert. Bithomp, a site that specialises in XRP data, indicates that a wallet connected to Ripple Labs started the transaction.
According to statistics from CoinMarketCap, XRP has been declining over the last week and has declined by over 8.5% in the last seven days. Despite this, the corporation submitted this significant amount of XRP to the exchange. Ripple sold the coins at a loss if this was a sale.
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However, Bitstamp represents a further opportunity: Bitstamp is among Ripple’s ODL platforms. ODL, or on-demand liquidity, is an XRP-based RippleNet-based fund transfer service. But Ripple has renamed it as just “Ripple Payments.”
Therefore, Ripple could easily supply the additional chunk of XRP required for ODL transactions to be done via Bitstamp in Europe by transferring 30.7 million XRP to Bitstamp. As previously reported by U.Today, Ripple transferred 30,300,000 coins of XRP to the same location on October 9.
Understanding Ripple’s XRP Sale at a Loss,Understanding Ripple’s XRP Sale at a Loss,Understanding Ripple’s XRP Sale at a Loss