Ripple Transfers $15M Worth of XRP to Bitstamp After Receiving Anonymous Transfer

Read about Ripple's transfer of $15 million worth of XRP to Bitstamp after receiving an anonymous transfer. Learn more about the reasons behind this transfer and Ripple's recent rebranding of its On-Demand Liquidity (ODL) product.

Posted 8 months ago in Blockchain


Image: Ripple transfers $15 million worth of XRP to Bitstamp after receiving an anonymous transfer of 100 million XRP.

Fintech giant Ripple has transferred $15 million worth of XRP to Bitstamp after receiving an anonymous transfer of 100 million XRP. The sending wallet belonged to blockchain company Ripple based in San Francisco, as it continues to sell more or less similar lumps of XRP, moving them to Bitstamp. This time, Ripple shifted a total of 29,600,000 XRP to sell, which is equal to $14,525,944.

Over the past two months, Ripple has been moving around two such XRP chunks to Bitstamp. The transaction took place after Ripple received 100,000,000 XRP from a wallet marked as 'unknown,' which was later revealed to be from Canada-based crypto exchange SideShift. While the reasons for this transfer are unknown, it could be speculated that exchanges sometimes move extra XRP received from Ripple back to it, or Ripple could be buying back XRP from the secondary market.

Meanwhile, Ripple recently rebranded its popular On-Demand Liquidity (ODL) product to make it more accessible to average users. Known as Ripple payments solution, ODL aims to provide a seamless payment solution using XRP.

Last updated 9/18/2023, 11:26:33 AM

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