Tens of Millions of XRP Shoveled by Ripple Partner Bitso as XRP Drops 12% Weekly

As reported by Whale Alert crypto tracking service, over the past 12 hours, roughly $42 million worth of XRP tokens has been transferred.

That was 120 million XRP, shifted by Ripple partner Bitso exchange and two anonymous digital wallets. In the meantime, the price of the seventh largest cryptocurrency XRP has shown a drop by more than 12% over the past week, according to Whale Alert.

120 million XRP sent over

Ripple Labs made an investment into Bitso in the fall of 2019, the amount of which remained undisclosed. Bitso has moved 50,500,000 XRP to a wallet that the aforementioned tracker marked as unknown. Data shared by XRP-focused Bithomp analytics website shows that this was, however, an internal XRP transfer between Bitso’s exchanges.

The same crypto exchange also received 30,000,000 XRP from a wallet that belongs to major U.S.-based crypto exchange Bitso.

Bittrex also transferred a total of 40,000,000 XRP to a Bitstamp-based wallet.

? 50,500,000 #XRP (17,614,470 USD) transferred from #Bitso to unknown wallethttps://t.co/4Vv6hEYRwp

— Whale Alert (@whale_alert) December 21, 2022

Ripple moves 50 million XRP, here’s where to

As reported by U.Today, on Dec. 20, Ripple giant shoveled 50 million XRP worth $16,789,197 to an anonymous wallet. That proved to be one of the company’s reserve wallets, RL18-VN.

Bithomp also revealed that, after that, 27.6 million XRP were sent from that wallet to the Bittrex exchange.

Over the past week, the price of XRP has shed roughly 12%. The amount of 4.17% was lost earlier today; however, by now, XPR has regained some of it, rising 1.45%. The coin is changing hands at $0.34322 at the time of this writing.

Source