Millions of XRP moved after the weekly price increase. The source of 28 million XRPs transferred to Bitstamp exchange was announced as SideShift crypto exchange.
It decreased by 2 percent
Popular blockchain platform Whale Alert, which tracks major crypto transactions, has spotted another XRP movement moved by crypto giant Ripple Labs to the Bitstamp exchange. Over the past week, the XRP price has increased significantly by approximately 7 percent to $0.52473. However, it suddenly changed hands at $0.51425, losing nearly 2 percent in value.
Ripple transferred millions of XRP to Bitstamp. Whale Alert reported that, in light of the data shared by the XRP-based analysis platform Bithomp, an anonymous wallet proven to belong to Ripple made a large transfer by moving a total of 28 million 600 thousand XRP to the Bitstamp exchange. The value of the amount in question was recorded as equivalent to 14 million 648 thousand 869 dollars.
https://twitter.com/whale_alert/status/1704244836738433280
While many believe that Ripple Labs is selling XRP here, Bitstamp has been speculated to be one of Ripple’s payment corridors, formerly known as On-Demand Liquidity (ODL). As it is known, Ripple decided to rebrand ODL as simply “Ripple payment service” in order to make it more accessible to users who may not understand all the technical terms.
Bithomp announced that the source of the XRP transfer was the Canada-based SideShift crypto exchange. No reason to explain this massive crypto transfer has been shared with the crypto community. Additionally, earlier this week Ripple moved 75 million XRP to an address that Whale Alert believes is anonymous.
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