Ripple made transfers to 45 million XRP
12. November 2020
According to the tracking service XRPL Monitor, in the last 24 hours the financial company Ripple has transferred 45 million XRP worth $11,540,296.
The popular bot has tweeted that Ripple has transferred 20 million XRP in two transactions.
Ten million XRP was transferred between Ripple wallets, the other part went to Bitstamp’s ODL corridor in Luxembourg.
As far as internal Ripple transfers are concerned, they are carried out quite frequently, as this is how the company allocates funds for operating expenses to be sent to its partners (large financial institutions) and to cryptormeries to maintain the liquidity of the coin.
From time to time, Ripple sends XRP to its partner MoneuGram, who cashes the funds almost immediately. Another part of the total 45 million XRP was sent to another ODL platform by Bitbank, a Japanese cryptographic exchange.
Legendary trader Peter Brandt recently tweeted that the US SEC would have long classified XRP as a security if she had any idea how the cryptographic currency works. A well-known trader often criticizes this cryptovalue, calling it a fraud and accusing Ripple of manipulating the cryptovalue market.
In October, Ripple won a partial victory in a long class action in which XRP is accused of being an unregistered security.