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  • Ripple Sends 220,303,137 XRP to Crypto Exchange Bitstamp As Bitcoin Whales Move 6,200 BTC

Ripple Sends 220,303,137 XRP to Crypto Exchange Bitstamp As Bitcoin Whales Move 6,200 BTC

December 11, 2019

A big transaction from the San Francisco startup Ripple is turning heads among crypto traders.

The company moved 220,303,137 XRP worth about $49.2 million on Monday. The XRP was sent to the Luxembourg-based exchange Bitstamp.

? ? ? ? 220,303,137 #XRP (49,277,247 USD) transferred from Ripple OTC Distribution wallet to #Bitstamp

Tx: https://t.co/6Ouc4ZQIxy

— Whale Alert (@whale_alert) December 11, 2019

Ripple owns more than half of the total supply of XRP and sells portions of its holdings over-the-counter to exchanges and institutional players on a routine basis.

The company says its sales of XRP decreased 74% in the third quarter of this year, from $251.5 million to $66.2 million.

Meanwhile, Bitcoin whales are surfacing in relatively small numbers as the price of BTC trades sideways.

Over the last day, some of Bitcoin’s biggest holders have moved a total of 6,200 BTC worth about $44.5 million.

Two of the transfers involved crypto moving from unknown wallets to a crypto exchange, where they could be sold on the open market. The remaining two transfers sent BTC from crypto exchanges to unknown wallets.

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